Economics

Closed Mexico Border Could Cost Carmakers $70 Million per Hour

April 02, 2019 at 4:32 PM

President Donald Trump’s threat to completely close the Mexico border would idle much of the U.S. auto industry in days, according to the Center for Automotive Research in Ann Arbor, Mich.

Report: Japan, U.S. to Begin Trade Talks on April 15

April 02, 2019 at 11:08 AM

Trade envoys from Japan and the U.S. are likely to meet in Washington, D.C., on April 15-16 to begin high-level talks about reducing Japan’s auto trade surplus, sources tell Reuters.

U.S. Fourth-Quarter Growth Gets a Downward Tweak

March 29, 2019 at 12:12 AM

The U.S. gross domestic product grew 2.2% in the fourth quarter of 2018, down from an initial estimate of 2.6%, the Dept. of Commerce says.

BMW Presses On with British Mini EV Production Plan

March 26, 2019 at 2:58 AM

BMW AG plans to launch production of an all-electric Mini in the U.K. this year regardless of how Brexit plays out at the end of this month.

Trade Chief: Canada May Balk at New N.A. Trade Deal

March 26, 2019 at 12:35 AM

Canada’s top trade negotiator says many in her country object to ratifying an updated North American trade deal until the U.S. lifts tariffs on Canadian aluminum and steel.

Trump Says Foreign Cars Are No Security Threat

March 22, 2019 at 6:14 PM

When asked by Fox Business Network today if imported foreign cars present a security risk to the U.S., President Donald Trump replied, “Well, no.”

U.S.-EU Trade Talks Stall Over Scope

March 21, 2019 at 5:37 PM

Trade negotiators for the European Commission still haven’t agreed on the scope of their talks with the U.S., prompting new Trump administration threats of hefty import tariffs on cars from Europe, Reuters reports.

Federal Reserve: No More Rate Hikes This Year

March 20, 2019 at 4:11 PM

The Federal Reserve voted unanimously today not to raise interest rates through the end of 2019, citing a slowdown in the pace of U.S. economic growth.

Brazil, Mexico Begin Free-Trade Deal on Cars

March 20, 2019 at 2:46 AM

Brazil and Mexico, Latin America’s two largest national economies, have begun a free-trade agreement for light vehicles, Reuters reports.

India Will Hike Tariffs to Boost Local EV Production

March 19, 2019 at 1:45 AM

India plans to raise taxes on imported electric vehicle components and batteries to encourage local EV production.

BMW Reminder: We’re the Biggest U.S. Auto Exporter

March 11, 2019 at 3:29 PM

BMW AG exported more than $8.4 billion worth of SUVs from the U.S. in 2018, making it the country’s largest vehicle exporter by value for the fifth consecutive year.

U.S. Jobs Growth Slowed Sharply in February

March 08, 2019 at 3:34 PM

The U.S. economy added only 20,000 jobs last month, well below the expected 180,000 positions, the Dept. of Labor reports.