Photo Credit: Getty Images
As President Donald Trump's tariffs impact the motor industry, UK-based carmaker Jaguar Land Rover (JLR) has stated it does not intend to produce vehicles in the US. JLR has no factories in the US and briefly suspended shipments to the country in April following Trump's initial tariff announcements, before resuming exports this month.
"Following articles based on comments made by the JLR CEO in the full year earnings media call, we can confirm we have no plans to build cars in the US," a spokesperson told reporters.
This week, the firm joined a growing list of companies to hold back on giving profit forecasts, as Trump's unpredictable trade policies continue to impact businesses around the world.
On Trump's self-declared 'Liberation Day' in early April he announced that the UK would be subject to 10% tariffs on all the goods it exports to the US. More stringent measures were later applied to cars, steel and aluminium.
But last week, the US agreed to allow some steel and aluminium into the country tariff-free, and reduced the levies on a set number of British cars.
A blanket 10% tariffs on imports from countries around the world still applies to most UK goods entering the US.
Rival luxury carmaker Mercedes-Benz, and Chrysler-owner Stellantis have also held back on giving forecasts, while Ford said the US levies will cost it about $1.5bn (£1.13bn) this year.
Outside the motor industry, top executives at well-known firms have warned recently about the impact that tariffs are having on their companies and the wider economy.
Last month, technology giant Intel, footwear maker Skechers and consumer goods firm Procter & Gamble either cut their profit forecasts or withdrew them, citing economic uncertainty.
This month, Barbie maker Mattel said it will put up the prices of some of its toys in the US as tariffs increase its costs.
Meanwhile, sportswear giant Adidas warned import taxes imposed by Trump will lead to higher prices in the US for popular trainers including the Gazelle and Samba.
