Trump warned US automakers not to raise prices due to tariffs

The Wall Street Journal (gate) is reporting that Trump has warned US automakers not to raise prices:

• Trump told the executives that the White House would look unfavorably on such a move, leaving some of them rattled and worried they would face punishment if they increased prices, people with knowledge of the call said.

• Instead, Trump said, they should be grateful for his elimination of what he called President Joe Biden’s electric-vehicle mandate, which involved subsidies and emissions requirements to encourage electric-car production.

Automakers in the US say they face a surge in costs due to tariffs on Canada and Mexico – Trump’s tariffs apply not only to imported cars but imported parts.

Link the Journal article is here if you can access it.

This article was written by Eamonn Sheridan at www.forexlive.com.