National & North American Highlights
1. U.S. Implements 25% Tariffs on Steel and Aluminum Imports
On March 12, 2025, the United States imposed a 25% tariff on all steel and aluminum imports, aiming to reduce the trade deficit and bolster domestic production. The European Union and Canada have announced plans for reciprocal tariffs on U.S. goods, raising concerns about potential disruptions in global supply chains. theguardian.com
2. Honda to Source Batteries from Toyota’s U.S. Plant
In a strategic move to mitigate tariff risks, Honda plans to procure batteries for its hybrid vehicles from Toyota’s U.S.-based plant. Starting in the fiscal year 2025, this collaboration is expected to supply batteries for approximately 400,000 vehicles annually, covering all hybrid models sold by Honda in the United States. reuters.com
3. U.S. Manufacturing Sector Faces Price Pressures
While U.S. manufacturing activity remained stable in February, there was a notable increase in factory gate prices, reaching a nearly three-year high. This surge is attributed to rising input costs, possibly linked to recent tariff implementations, signaling potential challenges ahead for manufacturers. reuters.com
4. New York State Manufacturing Activity Declines
March witnessed a significant drop in New York State’s factory activity, marking the steepest decline in nearly two years. The downturn is associated with escalating input prices and reduced new orders, reflecting broader challenges within the manufacturing sector. reuters.com
5. Industry 5.0: The Future of Manufacturing
The manufacturing industry is on the cusp of a transformative era with the advent of Industry 5.0, emphasizing collaboration between humans and advanced technologies. This evolution aims to enhance efficiency, customization, and sustainability in manufacturing processes. sdcexec.com+1youtube.com+1
Regional Highlights
Central Region (Ohio, Michigan, Kentucky, Indiana, and surrounding states)
6. Honda Shifts Civic Hybrid Production to Indiana
To circumvent potential U.S. tariffs on automotive imports, Honda has decided to relocate the production of its next-generation Civic Hybrid from Mexico to Indiana. This move underscores Honda’s commitment to adapting its manufacturing strategies in response to evolving trade policies. assemblymag.com
Canada and Mexico
7. Canada and EU Announce Retaliatory Tariffs
In response to the U.S. tariffs on steel and aluminum, Canada has declared plans to implement 25% reciprocal tariffs on $29.8 billion worth of U.S. imports starting March 13, 2025. Similarly, the European Union intends to impose tariffs on $28 billion worth of U.S. goods beginning in April. These measures are anticipated to escalate trade tensions and impact various industries.