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President Trump has threatened to impose tariffs on Mexico and Canada unless they address issues related to immigration and drug trafficking. Both countries have negotiated a one-month reprieve from the tariffs. The auto industry, heavily reliant on trade with these countries, would be significantly impacted by these tariffs due to the complex supply chain that spans North America. The Detroit 3 automakers could face up to $110 million per day in additional costs, with potential price increases for U.S. vehicles. Trade groups are calling for a swift resolution to provide stability for the entire industry.
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