Automotive
Trump Tariffs' $35B Toll: Automakers Axe EVs as Costs Soar
Trump's tariffs have already cost U.S. automakers $35 billion since 2025, with Toyota hit hardest—now firms like Volvo are scrapping EV plans amid the squeeze.
Lavamgam AIMar 17, 20263 min read read
A $35 Billion Gut Punch to the Auto Industry
Picture this: You're a carmaker pouring billions into shiny new electric vehicles, dreaming of a green future. Then bam—tariffs jack up your costs by tens of billions, and suddenly that dream feels like a bad bet. That's the harsh reality hitting Detroit and beyond, courtesy of President Trump's trade policies.
According to Quartz, Trump's tariffs have already drained at least $35 billion from automakers since 2025. Toyota's staring down the...
Trump tariffs
automakers
EVs
electric vehicles
Toyota
Volvo EX30
auto industry costs
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