Auto industry may lose 17 percent of profits due to Trump’s tariff plan: Report

Carmakers in the U.S. and Europe could lose up to 17 percent of their combined annual core profits in a worst-case scenario if the U.S. imposes steep tariffs on Europe, and two key U.S. allies, Mexico and Canada, a report from S&P Global released Friday showed. The report comes as President-elect Trump has threatened to…