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Mexico is looking to apply tariffs of as much as 50% on cars and auto parts, as well as steel and textiles from China and other countries with which it does not have a trade agreement.

“We are now working at pace to restart our global applications in a controlled manner,” Jaguar Land Rover said on its website. There’s no evidence customer data was stolen, it added.

“It would be a shame to build these facilities and then all of a sudden you have to scale back on the most important part of it, which is people,” a Ford vice president told reporters.

The loan, which is being provided by Deutsche Bank and other senior Marelli lenders, will need to be approved in two stages, which is typical in large corporate bankruptcy cases.

Montway Auto Transport CEO Tom Gartland discusses the company's acquisition of luxury car broker Angels Moving Autos and his leadership philosophy.

“As opportunities arose … I was there to help and solve problems, and that led to where I am today,” Ryan Kraft said. He replaces Mark Anderson as United Road CEO.

Automakers in the U.S. and Europe raised concerns about China’s export controls on rare earth metals, as Beijing’s move threatens to disrupt global car production.

Japan’s biggest carmakers are looking at a hit of more than $19 billion from President Donald Trump’s tariffs that have left the global auto industry reeling.

Just hours after taking effect, President Donald Trump’s 25% tariffs on imported cars were already reverberating around the globe.

Automakers are attempting to sway the Trump administration on tariffs, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.