Big Three automakers say Trump's trade deal with Japan will hurt US industry

In a social media post announcing a long-awaited trade deal with Japan Tuesday night, President Donald Trump said it was a "very exciting time for America." But for General Motors, Stellantis and Ford, it's been an extremely expensive year marked by mercurial tariff policies from the White House, the latest of which could further put them at a disadvantage.

Mary Lovely, a senior fellow at the Peterson Institute for International Economics, said automakers can't absorb those costs forever without passing some of the burden onto their customers. She pointed out that in addition to having to adapt to ever-changing tariff policies, carmakers have also had to evolve with new climate policies in recent years.

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