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G.M. Has Plans Ready for Trump’s Canada and Mexico Tariffs

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  • Post last modified:January 28, 2025

General Motors executives are closely tracking President Trump’s plans to impose tariffs on imports from Canada and Mexico, but the company is not yet making any major changes to its strategy in North America in response to the threatened tariffs. The automaker has pulled together an “extensive playbook” of possible options but won’t put them in place “until the world changes dramatically, and we see a permanent level of tariffs going forward,” the company’s chief financial officer, Paul Jacobson, told reporters in a conference call on Monday evening. “I won’t go into the details exactly but we’ve been preparing for that and want to make sure that we are prudent and don’t overreact,” he added. Mr. Trump said last week that he planned to impose tariffs of 25 percent on goods from Canada and Mexico starting on Saturday, Feb. 1. If he followed through on those plans, the tariffs would deal a big blow to G.M. and other automakers that produce vehicles and components in those countries, and probably increase the prices of many vehicles sold in the United States.

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