As tariffs on Canadian and Mexican imports take effect, the Trump administration has put in place a one-month exemption from them for U.S. automakers. The announcement comes as President Donald Trump spoke with leaders from Ford, Stellantis and General Motors. 

“One month is not enough time to rearrange production networks which have served North America extremely well. We can't move assembly plants or manufacturing facilities for roof racks or catalytic converters or whole assembly plants from Mexico to the United States,” says Mary Lovely, professor emerita of economics.

“The Canada-U.S. relationship goes back much further and has been extremely successful for both countries in creating vehicles that can be sold competitively in the United States,” Lovely says. “So I don't think one month is very meaningful. I think these tariffs are going to be quite damaging to the auto industry and ultimately to the businesses and households that have to buy vehicles at an inflated price in the U.S. There's simply no way around it.”

Watch the full interview via NewsNation Now.