The president of Stellantis John Elkann has announced that, according to the agreements taken, the group should be able to prevent its cars produced in Canada and Mexico from undergoing duties to be imported into the United States.
Good news for the group, which is experiencing a difficult period, in particular with the arrival of the first definitive data regarding 2024. Stellantis saw profits decrease by 70%, with a drop in turnover of about 17%.
Stellantis finds an agreement with the US on duties
Elkannaccording to the press agency Radiocorargues that, thanks to some rules contained in the free trade agreement between Canada, Mexico and the USA (USMCA), signed during the first administration of Donald Trump, Stellantis’ cars should not undergo import duties in the United States if coming from the other two countries.
At the beginning of March they could resume discussions between Mexico, Canada and the USA about the duties. Trump threatened them and then immediately withdrawn at the beginning of February, postponing the final decision by a month. In case of non -agreement, the risk is the imposition of customs barriers of up to 25% on all products imported through the boundaries of American land.
Elkann’s statements
“Stellantis has strongly supported the policy of President Trump aimed at promoting the American manufacturing industry. We announced big investments In the United States in the first 100 hours of his new administration, “Elkann said about the agreement.
“We believe that the conversations have been constructive and we also believe that the first Trump administration, in negotiating the USMCA, was very careful to ensure that the products we build in Canada and Mexico have US components and and those products should remain exempt from duties, “explained the president of Stellantis.
Elkann then stressed what Trump’s duties should be: “The real opportunity for the administration, in order to really increase jobs in America and the opportunities and investments in the manufacturing sector, is to fill the regulatory gaps that currently allow about 4 million vehicles without any US component to enter the country anyway. “
The future of Stellantis in the USA
As also mentioned by John Elkann, Stellantis He has invested in the United States since the beginning of the Trump presidency, also to try to avoid importing duties on their cars in the country. Among the investments already started in 2025, there are:
- The reactivation of medium-sized pick-up production in the Belvido plant, in Illinois
- The start of the production of the Dodge Durango, at the Detroit Asbly Center
- The expansion of the Toledo plant, in Ohio
- The update of the Kokomo plant, in Indiana, where the Hurricane engine is produced 4
The Stellantis crisis in 2024
Stellantis must recover from a very difficult 2024. According to the financial reports published by the group on February 26, the group turnover dropped in a year of 17%. The data that worries is, however, that of profits, 70%collapsed.
The company has attempted to limit the damages for its investors, however distributing a dividend equal to 68 euro cents per sharekeeping the yield at 5%.
