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Trump's tariff on steel imports could have a cost impact on automakers -- but in a better-case scenario, it could spur investment in hot specialty steels.
Putting tariffs on imported steel and aluminum reveals a stark new reality: The U.S. auto industry's plunge into aluminum content is reliant on Canada.
Ford recycles enough aluminum to build 37,000 F-150 bodies per month, and that material would not be subject to the president's tariffs or rising U.S. prices.
President Donald Trump's steel and aluminum tariffs drew eye-rolls and outrage at the Geneva auto show -- plus retorts that the move could derail planned U.S. investments.
Volkswagen's meetings last week with major cobalt producers to supply the automaker with the material used to make batteries for EVs ended without a deal, cobalt industry sources said.
A global push by automakers toward electric vehicles could lead to shortages in raw materials, including copper, mining group BHP said. EVs need four times as much copper as combustion-engine cars.
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