Volkswagen faces major setbacks as former U.S. President Donald Trump’s new 25% tariffs on Canadian and Mexican imports disrupt its supply chain. Nearly half of U.S. sales last year came from Mexico, where two of its models are produced.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Volkswagen faces major setbacks as U.S. President Donald Trump's new 25% tariffs on Canadian and
00:08Mexican imports disrupts its supply chain. Nearly half of U.S. sales last year came from Mexico,
00:14where two of its models are produced. The tariffs add to the financial struggles of
00:18the automakers, who are already hit by declining earnings in China due to weaker demand
00:22and rising local competition. German automakers have long relied on Mexico as a low-cost
00:28production hub due to its trade agreements. Volkswagen shares fell over 4% following
00:33Trump's tariff announcements. For all things money, visit Benzinga.com slash GSTV.