The Trump transition team stated that his tariffs would create jobs and raise wages, ensuring protection for workers against the unfair practices of foreign markets. However, the impact on GM, which imports many vehicles, remains concerning.
Paul Jacobson, GM's CFO, expressed that 'EV penetration is a long-term objective,' contrasting with the immediate profitability from their large trucks and SUVs, highlighting GM's delicate balancing act in their future planning.
General Motors expects to import over 750,000 vehicles this year from Mexico and Canada, challenging their core business if Trump's tariffs are implemented, especially on gasoline-powered pickups.
The potential easing of emissions restrictions could offer GM some regulatory relief, especially as Biden's stricter limits would boost the electric vehicle transition, yet trucks remain difficult to convert.
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