Trump tariffs cast shadow over New York International Auto Show

The 2025 New York International Auto Show opened on Wednesday amid concerns over a bleak market outlook that is looming with the imposition of U.S. President Donald Trump's sweeping tariffs.

Most of the exhibitors at the event expressed evident concerns over the impacts brought by the tariffs.

Mark Schienberg, chairman of the Greater New York Automobile Dealers Association (GNYADA), said the tariffs will undoubtedly tighten manufacturers' profit margins and even affect the launch of new models.

"Some manufacturers were talking about making some of the part suppliers hold, so that would keep the prices down for consumers. It is about affordability, and so one of the things that we're concerned about is the industry, is how will this affect prices. We did have a couple of manufacturers that canceled their vehicle into production here to New York Auto Show because they couldn't get product or they weren't sure if this product was going to be offered in the United States because of the tariffs on it," he said. Many industry insiders said that it is the high uncertainty in the tariff policy, rather than the additional tariff imposition, that panics them more.

"In terms of the industry in America, be it the domestic manufacturers or companies that import cars here, it's been a disaster and it's all that anyone talks about. And I don't see a happy way out of it, and I don't really see the way out other than to stop it and pretend it never happened," said Jamie Kitman, a columnist of the Car and Driver magazine.

Facing mounting uncertainties, many automakers said they began to prepare to embrace the worst scenarios.

Ford has said that if the U.S. government does not adjust the tariff policy, the company will raise the prices of its products starting from this summer.

According to the latest report from S and P Global Mobility, if the United States continues to impose high tariffs on imported cars, the sales of automobiles in the United States will decrease by approximately 700,000 units in 2025, and the production of automobiles in North America will also decline by 1.28 million units.

First held in 1900, the New York International Auto Show is one of the most prominent global auto exhibitions, which attracts visitors from across the world.

Trump tariffs cast shadow over New York International Auto Show

Brazilian President Luiz Inacio Lula da Silva met with visiting Chinese Foreign Minister Wang Yi in Brasilia on Wednesday, expressing the willingness to strengthen bilateral ties and expand cooperation.

Lula said that Brazil and China have built strong mutual trust and deepened cooperation across various fields, showing that Brazil's steadfast friendship with China is the right choice and a model for South-South cooperation.

He said that he looks forward to maintaining close high-level exchanges with China, further strengthening economic and trade ties, and expanding the mutually beneficial cooperation in finance, energy and other fields.

China's firm and forceful countermeasures against the "reciprocal tariffs" is admirable, said the Brazilian president, noting that China's just actions have received widespread support while certain country's irresponsible and unilateral practices warrant joint resistance.

Brazil is willing to work with China to advocate free trade, defend international rules, and counter any power overriding international justice, the president added.

Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, said that China is willing to work with Brazil to implement the important consensus reached by the two heads of state and push for more outcomes in building a China-Brazil community with a shared future.

China will strengthen its cooperation with BRICS and Global South countries, adhere to multilateralism and safeguard international rules, he said.

On the same day, Wang attended the 15th Meeting of BRICS National Security Advisers and High Representatives on National Security in Brasilia.

Brazilian president meets Chinese FM on closer ties, cooperation