S&P Global

1 month ago | spglobal.com

US auto tariffs could impact as much as 45% of light-duty vehicles sold in the US. About 23% of that 45% were imported from outside of North America.

1 month ago | spglobal.com | Nick Lazzaro

US President Donald Trump holds a chart showing duty rates while announcing new "reciprocal" tariffs during an event at the White House on April 2. The tariff announcement triggered a global stock sell-off the following day.

1 month ago | spglobal.com

S&P Global Mobility projects that March 2025 US auto sales will crest over 1.45 million units, as consumers and automakers try to get ahead of tariffs.

1 month ago | spglobal.com

The Canadian economy was improving before the escalation in U.S.-Canada trade tensions. Economic activity and labor market seemed to be getting better in the second half of last year and January 2025 to raise likelihood of the Bank of Canada to pause its rate-cutting cycle. Real GDP grew at 2.6% annualized during the fourth quarter, following a 2.2% growth in the third. Full-year GDP growth was 1.5%, not different than in 2023 but with an encouraging quarterly profile--one of increasing growth momentum (opposite of 2023). Households led the way with the growth surprise. Business outlays also showed improvement, together with the unemployment rate stabilizing and then dropping to 6.6% in February from its 6.9% peak in November. February employment gains

1 month ago | spglobal.com

The sequencing of policies from President Donald Trump's administration could mean slowing growth for the U.S. economy before any potential positives from promised deregulations and tax cuts. The front-loading of regressive policies--higher tariffs and federal workforce layoffs--are disrupting growth earlier than we previously projected. As a result, S&P Global Ratings forecasts real GDP growth will cool to 1.9% in 2025 and 2026, down from 2.9% in 2023 and 2.8% in 2024, and average roughly 2.0% per year thereafter. At first glance, our growth forecast of 1.9% for 2025 on an annual average basis suggests little change in conditions from our November update. However, on a fourth-quarter over fourth-quarter basis, we have shaved real GDP growth by approximately 40 basis points