4.2 • 5.3K Ratings
🗓️ 4 March 2025
⏱️ 19 minutes
🔗️ Recording | iTunes | RSS
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0:00.0 | My name is Thomas Coval. I am the CEO of Legera Technologies. I live in Rochester, Michigan, not far from Detroit, the center of automotive industry. |
0:20.2 | Thomas's company makes parts for vehicles, things like the shelves |
0:24.5 | inside Amazon vans, and those spare tire holders at the back of jeeps and Ford Broncos. |
0:31.5 | How long have you worked in the automotive industry? I've actually worked in automotive industry my |
0:36.9 | entire life since I was 16 years old. |
0:41.0 | I started working in factories in Germany, and I'm originally from Sweden. I'm a big fan of |
0:47.6 | Detroit, and I'm a big fan of the auto industry. How much of your production is in the U.S. |
0:53.2 | and how much is outside of the U.S.? |
0:56.0 | All our production is in the U.S. |
1:00.0 | However, we do have material coming in from other countries. |
1:05.0 | We have material coming from Mexico. |
1:07.8 | As of today, those materials will be subject to a new 25% tariff. |
1:16.4 | Tariffs 25% on Canada and 25% on Mexico, and that'll start. |
1:22.9 | So they're going to have to have a tariff. |
1:24.5 | So what they have to do is build their car plants, frankly, and other things in the United States. |
1:30.8 | President Trump has said these tariffs are necessary to fight fentanyl trafficking and |
1:35.8 | illegal migration, as well as to build up U.S. manufacturing. |
1:40.3 | It's a very unpredictable time right now, and it's a very, very tough time. |
1:47.0 | We don't know where these tariffs are going to go, so we're going to have to deal with that. |
1:52.0 | But the question is, how long will it last for? |
1:55.0 | So a company like ours, we've built up inventory to try to see if this is only going to last for two weeks, we're going to be fine, |
2:02.4 | but after that, what happens? |
... |
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