NEW YORK — The 15% tariff rate on Japanese autos and auto parts agreed in this week’s deal between the U.S. and Japan has angered the U.S. auto industry, which still faces a 25% rate on its imports from elsewhere in North America.
The Big Three American automakers — General Motors, Ford Motor and Stellantis — buy parts from countries with low labor costs, such as Mexico, to assemble in American factories. They also bring in finished vehicles from Mexico and Canada, as well as South Korea in GM’s case. GM and Stellantis import around 40% to 50% of the vehicles they sell in the U.S.
