President-elect Donald Trump promised to impose a 25% tariff on all goods from Mexico and Canada on his first day in office. Imports from Mexico and Canada totaled $900 billion in 2023. Trump has proposed tariffs as a solution to government funding.

Donald Trump's pledge to slap tariffs on imports to the U.S. from Mexico could be more damaging for European car makers like Volkswagen and Stellantis and their suppliers than any direct tariffs on EU goods,

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.