Chairman of automaker Stellantis urges Trump to keep Mexico, Canada 'tariff-free'

Stellantis faces uncertainty around tariffs promised by U.S. President Donald Trump that could significantly reduce its profits, while the Jeep-maker is already struggling to recover from what it called a "rough" 2024. The Franco-Italian-U.S. group argued that Trump's administration should avoid implementing tariffs that would disproportionately hit automakers that build most of their vehicles in the U.S., including the 25% duties on Mexico and Canada that are poised to go into effect in early March. "The real opportunity for the administration in order to really boost jobs in America and manufacturing opportunities and investments is by closing the loophole that currently allows approximately four million vehicles into the country" with no U.S. content requirements, Stellantis Chairman John Elkann said Wednesday on a call with analysts, adding that products built in Mexico and Canada should "remain tariff-free."