Auto Industry Braces for Whiplash as Trump Takes Power
The auto industry is preparing for major changes as key members of the second Trump administration vow to reshape Biden-era policies, including the removal of EV incentives and potential tariff increases aimed at protecting domestic manufacturers.
The Wall Street Journal’s Ryan Felton notes that, while these measures could in theory benefit traditional automakers, concerns arise about potential favoritism toward Tesla, given Trump’s well-known ties with CEO Elon Musk. Industry leaders worry that such policies might disrupt market dynamics and hinder competitors’ efforts to catch up in the EV race.
Furthermore, any imposition of tariffs could have ripple effects, potentially increasing costs for automakers and consumers alike. With uncertainty around Trump’s broader automotive strategy, stakeholders are bracing for a period of volatility at a pivotal time for the auto industry.
