Tariffs will slam car sales and production, analysts say
President Trump's steep new tariffs on foreign cars could lead to a sharp decline in U.S. vehicle sales, according to S&P Global Mobility.
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President Trump's steep new tariffs on foreign cars could lead to a sharp decline in U.S. vehicle sales, according to S&P Global Mobility.
What do we know about the idea of pausing the auto tariffs? So there has been no official timeline so far no firm timeline. But President Trump has said that he wants to give automakers time to increase domestic production.
On Friday, U.S. Customs released a bulletin stating Chinese electronics would be excluded from reciprocal tariffs. But then Sunday President Trump posted online there was no tariff exception announced on Friday. Electronics, he said, are moving to a different tier; and furthermore, said new tariff announcements would be made soon.
The exemptions, published late Friday in a notice by the U.S. Customs and Border Protection office, cover various electronic goods, including smartphones.
U.S. businesses are starting to add a tariff fee to customer bills and shopping carts to offset rising import costs.
Consumer sentiment fell sharply in April for the fourth straight month as the trade war fuels worries about inflation and employment.
China says it is raising tariffs on U.S. goods to 125%, escalating the trade war between the two countries.
As Trump leaves China alone in facing high U.S. tariffs, Beijing says "the door to talks is open," but dialogue must come with "mutual respect."
Michigan Gov. Gretchen Whitmer earlier Wednesday delivered a speech while in Washington, outlining bipartisan efforts to grow the economy and boost manufacturing.
The U.S. stock market surged immediately after President Trump announced the pause on most of his new "reciprocal tariffs."
President Trump announced reciprocal tariffs on about 90 countries, including China and the European Union. Here's the list.
China said it will hike its levies on U.S. imports to 84% after President Trump hit Chinese goods with even higher tariffs.
President Trump's tariffs on imports from dozens of countries kicked in Wednesday, including 104% on goods from China, dramatically ramping up a potential global trade war.
President Trump and Israeli Prime Minister Benjamin Netanyahu met two days before new U.S. tariffs go into effect.
President Trump said he will slap more tariffs on imports from China if it doesn't withdraw a retaliatory tariff on U.S. products. Beijing bristled at his latest threat.
As the stock market continues to disappoint, the nonprofit organization Greenpath Financial tells CBS News Detroit that more people are coming to it now for help managing the stress of seeing what's happening with their finances.
It was a roller-coaster day in stocks as panic selling subsided, while President Trump threatened to hit China with a 50% tariff.
The likelihood of the U.S. entering a recession has jumped since President Trump announced new tariffs, according to Goldman Sachs economists.
Stocks in the U.S. look set for another for another rough outing Monday as the Trump tariff fallout continues to roil global markets.
The layoffs begin Monday and are expected to last for several weeks.
Countries targeted by President Trump for higher so-called reciprocal tariffs are due to go into effect on Wednesday.
Commerce Secretary Howard Lutnick said President Trump "wasn't kidding," and his reciprocal tariffs will take effect later this week.
Stocks continued to tumble in the U.S. Friday as financial markets suffered their biggest two-day drop since 2020.
Beijing fires back at Trump's latest tariffs with a matching 34% tax on all U.S. imports and tightened export controls on rare earth elements.
Stock futures are pointing to another major drop in U.S. financial markets as global trade war risks rise.
A person who was outside a disabled vehicle was struck and injured Thursday on I-96 in Metro Detroit.
The decision came after almost 100 residents packed a meeting room that lacked seating.
A Metro Detroit mother whose 34-year-old son was fatally stabbed in Livonia last week wants her son's legacy to live on. She also wants the two people arrested in connection with his death to face serious consequences.
The proposal has faced opposition from residents, with an online petition garnering hundreds of signatures.
It has been over 150 days since Ann Arbor school teachers have gone without a contract, and as the school year is about to end next week, over 1,000 teachers and supporters attended the district's school board meeting on Wednesday to demand a new, fair contract.
The decision came after almost 100 residents packed a meeting room that lacked seating.
A person who was outside a disabled vehicle was struck and injured Thursday on I-96 in Metro Detroit.
It has been over 150 days since Ann Arbor school teachers have gone without a contract, and as the school year is about to end next week, over 1,000 teachers and supporters attended the district's school board meeting on Wednesday to demand a new, fair contract.
A Metro Detroit mother whose 34-year-old son was fatally stabbed in Livonia last week wants her son's legacy to live on. She also wants the two people arrested in connection with his death to face serious consequences.
The proposal has faced opposition from residents, with an online petition garnering hundreds of signatures.
American Axle, which is headquartered in Detroit, is a Tier 1 supplier to General Motors. UAW members have launched a strike at its Three Rivers site.
The UAW became known for fighting for higher wages, improved benefits and safer working conditions for workers across the auto industry.
Stellantis unveiled a nearly $70 million five-year strategic plan with the launch of new vehicles — including hybrids and EVs — over the next five years.
From classic cruisers to new memories still being made, the Woodward Dream Cruise remains a celebration of Michigan's automotive culture.
If you are planning a road trip for Memorial Day weekend, remember that the cost of gas this year is noticeably higher than last year.
Joe Negri, known to many as Handyman Negri on "Mr. Rogers' Neighborhood," has died at the age of 99, just days shy of his 100th birthday.
Stephen Colbert, former host of "The Late Show," is helping raise money for the Michigan nonprofit Monroe Community Media after appearing on a broadcast of the organization's community access program "Only in Monroe" earlier this month.
President Trump said he is considering replacing the Freedom 250 concert series with a rally after many artists dropped out.
Sonny Rollins, the legendary tenor saxophonist known for his bold tone and constant experimentation, has died at 95.
For three days, Detroit is the epicenter of techno music with this Memorial Day weekend tradition, and the music lovers made sure to attend the final day of the Movement Festival on Monday.
Troy Melton allowed only two runs over a career-long eight innings, Dillon Dingler drove in four runs and the Detroit Tigers finished off a three-game sweep of the Tampa Bay Rays with a 7-2 victory.
Safety watchdog said seat belts in certain Ford Expedition and Lincoln vehicles may inadvertently lock, preventing them from functioning properly.
Air traffic control also referred to the pilot of a small plane as "Mad Max."
Beneficiaries would continue receiving payments if Social Security's trust fund is depleted, but checks could shrink by about 24%, according to a new report.
CBS News has fired longtime 60 Minutes correspondent and former "CBS Evening News" anchor Scott Pelley one day after he had a tense and confrontational exchange with new 60 Minutes executive producer Nick Bilton.
According to the U.S. Attorney's Office, the two people are accused of providing federal authorities with false statements after arriving at the McNamara Terminal on Jan. 25, 2026.
West Nile virus has been detected among mosquitoes in two locations near Grand Rapids, the Kent County Health Department said.
A Northville dentist is facing 43 felony charges in an alleged Medicaid fraud scheme.
Michigan lawmakers are considering bills to allow doctors to prescribe life-ending medication to terminally ill patients.
The tentative agreement means roughly 300,000 Blue Cross members will continue receiving care at Michigan Medicine facilities as in-network services.
Robert Thompson, a sophomore at Walled Lake Western High School, examined how pressure can affect athletes' mental health and created an award-winning public service announcement.
Troy Melton allowed only two runs over a career-long eight innings, Dillon Dingler drove in four runs and the Detroit Tigers finished off a three-game sweep of the Tampa Bay Rays with a 7-2 victory.
Gleyber Torres hit a leadoff homer, Wenceel Pérez and Riley Greene also went deep and the Detroit Tigers routed the Tampa Bay Rays 8-0.
Colson Montgomery homered and Tristan Peters' RBI single put Chicago ahead as the White Sox rallied with two runs in the seventh inning to beat the slumping Detroit Tigers 2-1 on Sunday for their fifth straight win.
Alex Palou won the Detroit Grand Prix on Sunday afternoon after starting in the top position and leading the field through the downtown streets.
Bob Riney, president and CEO of Henry Ford Health, headlines Michigan Matters this Sunday, along with three other community champions who discuss important issues dissected at the Mackinac Policy Conference.
It's the fourth year the Detroit Grand Prix has been on the streets of the Motor City after moving from Belle Isle.
This week on Michigan Matters, the roundtable talks about the governor's race and the impact of former Detroit Mayor Mike Duggan.
The roundtable discusses the impact of rising gas prices and friction at the federal level with Canada and the U.S., and how it affects tourism.
Life Directions has been helping guide and mentor young people in Detroit.
The Design Review Board in Birmingham reviewed plans Wednesday night for major exterior changes to a former CVS Health storefront along Woodward Avenue near East Lincoln Street.
President Trump brought reporters into the Oval Office on Wednesday afternoon and took some questions about the war in Iran. CBS News has this report.
Michigan Gov. Gretchen Whitmer has signed a bill into law that will allow Mackinac Island voters to decide on whether city council should have greater authority on ferry fares to the island.
Dozens of witnesses are expected to be called into court as a trial has begun against a former Warren Police Department officer facing charges over a 2024 crash that killed two men.
Good morning Family! Looking at another lovely day with plenty of sunshine with temps in the upper 80's. Friday looks hot with a high of 90° partly sunny with showers and thunderstorms moving in late Friday into Saturday. Sunday things clear once again. partly