Honda Motor Co. is preparing for the potential impact of a 25% tariff on imports, which could cost the company over $20 billion, according to Global EVP Shinji Aoyama. To mitigate these effects, Honda is considering shifting some vehicle production from Canada and Mexico to the U.S., a strategy also being explored by General Motors and Nissan. Honda’s operations heavily rely on parts sourced from abroad, but the automaker believes it can adapt due to its significant U.S. production. The company is also focusing on long-term electrification strategies and investments in U.S. facilities to improve profitability.

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