The initial effects of Trump’s trade policies are being felt in Michigan’s economy, particularly within the automotive sector. Automakers are adjusting to proposed 25% tariffs on cars, which have prompted dealers to prepare for potential increases in vehicle costs. These tariffs are creating collateral damage for the U.S. electric vehicle industry amidst escalating trade tensions. Some automakers are attempting to find opportunities within the chaos of these new tariffs, seeking to mitigate impacts on production and sales.
— new from WSJ