Hyundai Motor President José Muñoz has drawn a line, stating that the company has no plans to raise car prices in the U.S. in response to President Donald Trump's 25% tariff on imported vehicles. Muñoz made this statement during a media day event at the 2025 Seoul Mobility Show in South Korea.

S&P Global Mobility forecasts that U.S. light-vehicle sales could drop to between 14.5 and 15 million units annually in coming years.

Stock markets across the Asia-Pacific region tumbled on Thursday after US President Donald Trump imposed tariffs on trading partners around the world, with many Asian countries taking the biggest hits.

The White House says President Trump's trade policy will come to a head on April 2, when the administration unveils a plan for reciprocal tariffs. Why it matters: The new tariff regime will take aim at trading partners that officials believe treat domestic exporters unfairly.

President Trump says the goal of his tariffs − resuscitating U.S. manufacturing's glory days − will be worth the turmoil. Experts are skeptical.

Welcome back to Critical Materials, your daily roundup for all things electric and tech in the automotive space. Dealers might wake up to an unsettling email in their inbox from Hyundai corporate this morning. Plus, U.S. auto buyers could start to feel the effects of tariffs in May, and Elon Musk is preparing to depart from DOGE. Let's jump in.

Canadian Prime Minister Mark Carney said the tariff could raise up to C$8 billion, which would be used to help workers and companies affected by the Trump tariffs.

Trump’s speech announcing a huge increase in tariffs on American trading partners was riddled with falsehoods and misleading statements on trade that he has made for years. But now they are determining policy that will increase the costs of goods for many Americans.