0228 GMT - President Trump's latest tariffs on foreign-made cars and auto parts are poised to hit carmakers worldwide just as the trade war is already weighing on growth, say Stefan Angrick and Dave Chia at Moody's Analytics. Within Asia-Pacific, Japan and South Korea stand to be hit the hardest, as cars shipped to the U.S. are about 6% of Japan's exports and 4% of Korea's, they say. Back-of-the-envelope calculations suggest tariffs could shave 0.2 to 0.5 percentage point off the GDP growth in each economy. "Given the long and complex supply chains in car manufacturing, the impact will ripple through the region, causing noticeable damage," they say and expect carmakers to step up investment in the U.S. as they seek to negotiate exemptions or reduced tariffs. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 22:28 ET (02:28 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
