Honda Motor Co. anticipates that a 25% import tariff set to take effect soon could impact the company by over $20 billion, prompting discussions on production shifts from Mexico and Canada to the U.S. to mitigate these effects. Honda, which relies heavily on overseas components, is considering reorganizing its production strategies amid changing market conditions. The automaker is also investing over $1 billion in Ohio for electric vehicle production, aiming to enhance profitability and reduce U.S. production costs, while remaining cautious about potential tariffs affecting its operations in Canada and Mexico.

Source: https://www.supplychaindive.com/news/honda-cfo-tariffs-us-canada-mexico-vehicle-production/740702/