As the automotive world waits for the next development in the ongoing trade discussions between the United States and China, the latest tariff speculation is focused right here in North America.
US President Donald Trump recently tweeted about a potential 25 percent tariffs on cars crossing the border from Mexico. The United States currently imports 2.6 million vehicles into the country from Canada and Mexico. Tariffs would impact a significant percentage of those vehicles, as well as imported parts. This could result in cost increases and job losses across the continent.
In the midst of this uncertainty, we remain informed and focused on potential impact on the fleet industry. We are also studying how tariff propositions with Mexico could impact the pending US-Mexico-Canada-Agreement (USMCA), which exempts Canada and Mexico from US vehicle tariffs. Global government officials are working to finalize the USMCA this year, which will give us a clear idea of tariffs between the three countries.
As an international provider of automotive-related services, we remain focused on the future of fleet on a global level. ARI’s fleet professionals continue to monitor the market for any potential impact to our North American customers including organizations served by Ariza, a joint fleet management venture between ARI and Corporación Zapata located in Mexico City.