12:05 PM EST, 02/26/2025 (MT Newswires) -- Stellantis ( STLA ) Chairman John Elkann said that the Trump administration should consider a policy that applies new tariffs to imported vehicles made without any US parts instead of seeking to lift duties on imports from Mexico and Canada.

In a Wednesday call with analysts, Elkann said the company believes that when the first Trump administration negotiated the United States-Mexico-Canada agreement it was mindful of making sure that US parts were in the products Stellantis ( STLA ) built in Canada and Mexico.

Elkann said that the real opportunity for the administration to boost jobs and manufacturing investments is by "closing the loophole that currently allows approximately 4 million of vehicles into the country with any US content."

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