General Motors (GM), Ford (F), and Stellantis (STLA) are trying to influence the Trump administration's decision on potential 25% tariffs on medium- and heavy-duty trucks, Bloomberg News reported Friday, citing unnamed people familiar with the matter.
According to the report, Stellantis has been lobbying for the administration to waive or reduce the tariff, which would impact its Ram pickups built in Mexico. Ford and GM are urging the administration not to give Stellantis a break, the report said.
Ford argued that if Stellantis' request is accepted, it would give it a cost advantage over trucks made in the US. Meanwhile, GM told administration officials that if Stellantis is exempted, other automakers will demand the same, and GM wants similar treatment for its own vehicles made in Mexico, Bloomberg said.
The lobbying push comes as the administration missed its original Oct. 1 deadline to impose the tariffs, the report added.
General Motors, Ford, and Stellantis didn't immediately reply to MT Newswires' requests for comments.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 59.34, Change: -0.02, Percent Change: -0.04