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British luxury carmaker Aston Martin is scaling back exports to the United States due to Donald Trump’s newly imposed tariffs, while major automakers Stellantis and Mercedes-Benz have suspended their financial forecasts for the year, citing uncertainty surrounding shifts in US trade policy.
Aston Martin, famous for its James Bond associations, stated it is "currently limiting imports to the US while leveraging the stock held by our US dealers." The US remains a vital market for the company, accounting for roughly a third of its £1.6 billion revenue in 2024. The manufacturer said it is closely monitoring the changing tariff environment and will adjust its operations accordingly.
Aston Martin joins Stellantis and Mercedes in feeling the impact of the Trump administration's 25% tariff on all vehicle imports, which came into effect on April 3. The tariffs are part of a broader effort to encourage domestic car production and reshape global trade dynamics.
However, Trump has since signaled a partial rollback of the measures, announcing that some levies on foreign vehicles and auto parts will be reduced. This move aims to ease pressure on US carmakers, who had warned that the sweeping tariffs could inflate production costs by tens of billions of dollars.
Under the revised plan, automakers facing the 25% import tariff will be exempt from additional Trump-era duties, such as those on steel and aluminium. US-based manufacturers will also be able to apply for temporary relief on a portion of the tariffs levied on imported components.
Stellantis, which owns brands like Jeep, Fiat, Vauxhall, and Peugeot, said on Wednesday it was halting its 2025 financial guidance due to the unpredictability surrounding US tariff decisions. The company, which saw a decline in profits in 2024, reported a 9% year-on-year drop in vehicle shipments during the first quarter, falling to 1.22 million units, along with a reduction in net sales.
Similarly, Mercedes-Benz Group announced it was withdrawing its financial forecast for the current year, citing the volatile global economic climate driven by US tariff policies and potential retaliatory measures from other countries. Although Mercedes manufactures some vehicles in the US, it also relies heavily on exporting European-made cars to the American market.
The company noted that the ongoing uncertainty made it impossible to provide reliable forward-looking financial guidance. It warned that if tariffs persist, its earnings, cash flow, and profit margins could face significant pressure.
