now, stellantis has explicitly stella ntis has explicitly linked stellantis has explicitly linked itscretary, jonathan reynolds, and has said the government is willing to consider changes. he has launched a consultation in the past few minutes he announced that two mps. but it doesn't look as though there is going to be any major change. government remains committed to a target of 2030 for outlawing the sale of new petrol and diesel powered vehicles. it doesn't look as though there will be any compromise on that. it might compromise on some of the methods in which manufacturers can meet those targets. but the industry is saying it also needs incentives to promote people to buy electric vehicles. in the meantime it looks like a decision is taken. production is moving up to ellesmere, there will be new investment there will be new investment there is well.— there is well. briefly, you mentioned _ there is well. briefly, you mentioned how _ there is well. briefly, you l mentioned how devastating there is well. briefly, you - mentioned how devastating it was for communities there. is the

the parent company, stellantis, have announced they will close the plant in luton.a national significance is because this appears to be part of a trend. last week, ford announced it would cut 800 jobs in the uk over the next three years. for�*s rival nissan which has that plant in sunderland of course, talks about the climate for investment in car manufacturing in the uk worsening. and what the government clearly fears is a direction of travel which could quite fast overwhelm the automotive industry here in the uk, and that is clearly something no government would want to happen. but there is a fundamental tension here, because all of those car manufacturers are talking at least in part about the hurdles with the electric vehicles targets that labour inherited from the conservatives, those targets you just described, but nevertheless they are very much committed to them. indeed they brought forward the ultimate target, which is the banning or phasing out the sale, of new petrol and diesel cars by 2030. so, what is actually on the table in the review being undertaken

stellantis is investing £50 million in ellesmere port and creating hundreds of newjobs, but not enoughsome have said the ev rules are a convenient excuse for cost cutting, but the uk is not alone. across europe, car makers fighting new chinese rivals, are shutting factories and cutting tens of thousands of jobs. that will be little comfort to workers in luton. simon jack, bbc news. as we mentioned, we are just a few minutes away from this week's prime minister's questions. this is the scene in the house where the prime minister sir keir starmer will be appearing shortly. we can now speak to our political correspondent helen catt. what do you think the focus will be for pmqs this week? the newspapers are leading with the government plans to change its electric vehicle rules at the moment. electric vehicle rules at the moment-— electric vehicle rules at the moment. , . ., , , moment. this has certainly been the big story _ moment. this has certainly been the big story over— moment. this has certainly been the big story over the _ moment. this has certainly been the big story over the las

let's start in the uk where the car giant stellantis — owner of vauxhall — has announced plans to closeaking plant at luton, putting hundreds ofjobs at risk. it says it will consolidate its electric van production at its other uk plant in ellesmere port. the announcement comes amid growing concerns among car manufacturers that current rules designed to speed up the transition to electric vehicles are too onerous. they stipulate that manufacturers must sell a minimum quota of electric cars and vans each year. the uk government is now preparing to launch a fast track consultation on potential changes to rules designed to promote the sale of electric vehicles. let's get more on this. i'm joined by the car industry expert david bailey, professor of business economics at the birmingham business school. what's your reaction to this news? it is very sad news. the plant at luton had been in operation for almost 120 years making commercial vehicle since 1935. the workers in particular had worked very flexibly there for a long time to get costs down and make the site attractive to investment. how

in the case of stellantis, profits are hauling around the world but it says it has a particular problemy much indeed for that analysis, that steel leggett there are business correspondent. stay with us here on bbc news. hello. well, tuesday brought some calm weather. however, tonight we're expecting some heavy rain across southern parts of the uk, and gusty winds into wednesday, around southeastern parts of england. now, it'll be brought by developing storm conall — and here it is on the satellite picture — it's been named by the dutch weather service. here's the good news — the worst of the storm is expected to miss us. as it tracks across southern parts of the country, it'll onlyjust be developing — which means that the worst of the weather will track across the north sea, and unfortunately, impacts the low countries. so, here's that rain as it spreads across southern parts of england and wales through the course of the night. the met office warns there could be some heavy rain in the south — in fact, through wednesday morning, we could see as much as 40mm of rain, the met office warn

but vauxhall owner stellantis said it would close its van—making plant in luton, putting 1,100 jobs atrtly caused by the electric car transition. responding to fears of unfair competition, last month eu countries approved the imposition of hefty import tariffs on chinese—made evs. i've been speaking to professor david bailey from the business economics department at birmingham university. he told us more about the electric vehicle government mandate here in the uk. the uk, for example, this year there is a mandate from the government which basically is saying to car companies, 22% of your vehicle sales have to be electric, and if they don't hit that, they're fined very heavily. that increases to 28% next year, 80% by 2030. and then after 2030, the ban on petrol and diesel sales comes in. car firms are saying they aren't going to all hit the 22%. they face substantial fines, which could run into something like £1.8 billion a year. they also may have to buy credits from companies that do hit the targets, which will tend to be mainly chinese companies only selling electric cars. so this i

stellantis is investing £50 million in ellesmere port and creating hundreds of newjobs, but not enough0 going at luton. some have said the ev rules are a convenient excuse for cost cutting, but the uk is not alone. across europe, car makers fighting new chinese rivals are shutting factories and cutting tens of thousands ofjobs. that will be little comfort to workers in luton tonight. simon jack, bbc news. the work and pensions secretary, liz kendall, has promised to "get britain working again" by overhauling employment services. she told mps that 2.8 million people are out of work due to long—term sickness, and almost one million young people are not in education, employment or training. the government plans to spend £21i0 million on overhauling job centres and provide more funding for mental health services. and faisal will have more on this on newsnight on bbc two shortly. how do we get young people with poor mental health into work? we quiz the education secretary, bridget phillipson. and whether pushy parents are gaming the exam system with extra time for their children. therese co

stellantis says it plans to produce an all—electric vehicle hub in ellesmere port. russian forces have carried out their largest ever drone attack on ukraine, damaging buildings and critical infrastrucutre in several regions. a record 188 drones were launched overnight, according to the ukrainian air force. meanwhile russian media have said moscow has expelled a british diplomat on grounds of espionage and acts of sabotage. the diplomat replaced one of six other uk diplomats who were expelled in august, also for alleged spying. 0ur russia editor steve rosenberg explained why moscow has chosen to take this course of action. from the statement that the fsb — russia's domestic security service — put out today, they claim that a british diplomat — the second secretary of the political department of the british embassy in moscow — has been expelled, claiming that he provided false information for his entry to russia and claiming that he was involved in espionage. the british ambassador has been summoned to the russian foreign ministry. now, this in itself is no huge surp

stellantis is delaying the release of its ram electric pickup truck until next year.anned to put the 1500 ram charger on the market by the end of this year. automaker isn't saying why it's delayed, saying only it wants to focus on the release of the new dodge charger daytona and the electric jeep wagoneer first. now, that electric pickup will now be launched early next year. it's equipped with a gas engine and an electric generator. stellantis says it is capable of driving 500 miles on a single charge. buster posey continues

tell stellantis, he's quite good at delivering a message.is that if they plan on moving, we will judge them a 1% -- 100% tariff on every car. you know who said they are going to move? a company that i buy a lot of stuff from. john deere. moving big sections of their company from iowa i believe they said to mexico. i told them, beware. i'm going to charge you 100% tariff on everything you make. if you are going to move from iowa and you are going to move from iowa to mexico and then you think you are going to make it in mexico and sell it over here at that cost, not going to happen. somebody told me the other day that they announced that they are not making the move. why would they make the move? it will cost them much more to make the product over there. in other words, we are going to use that. the most beautiful word in the dictionary to me is tariff. it's the most beautiful word. going to make our country rich. stupid people, luck. politicians, there's only two reasons why they wouldn't want to use tariffs. they are stupid or they are cor

years of economic hardship, of the fundamental change of our automobile industry. 2400 layoffs at stellantis1000 at general motors and a recent 700 layoffs at ford. and we thought, boy, you know, there is a better way to do this because i believe in every fiber of my being with every michigan citizen, that ingenuity, that grit, that spirit that makes us who we are, we knew that if we engage that we could be competitive in this state. and because of you, all of you, we became the most competitive u.s. senate seat in the country within the last few weeks. [cheers] and so, my wife, we've been joking along the campaign trail. i say my wife and i decided about, i don't know, maybe two months ago that we would split our time. oh, come on. that's funny. lighten up. [laughter] she didn't think it was funny either, by the way. she said don't tell that joke. , so she was going to the west side, i was going to the east side and then we would cross again and we just started doubling our numbers and doubling our conversations and getting people excited about this race. and something really phenomenal hap

although thatis electric vehicles, although that is part of it, but recently we have seen nissan and stellantis question is very relevant. in the case of ford you need to look across europe, it has seen a halving of its market share, it is losing market share to others and part of the others, a substantial part of those, other chinese competitors, and the chinese have been more accurate in bringing affordable electric vehicles wearers ford pivoted away from a fiesta and a focus, moving to more expensive crossovers like the explorer and the capri, and those cars are more expensive, more expensive cars means lower volume, and probably gives you a good indication as to why they are losing market share. 0n the chinese element, many of those car—makers are relatively new to the market, they are nimble and efficient and able to do it cheaply, and they also able to do this at volume, but are they really at the volume we have seen from legacy car—makers, the likes of nissan and toyota? iii car-makers, the likes of nissan and toyota?— and toyota? if you look at the total of the — and toyota? if you look

the company, stellantis, which also owns citroen, peugeot and fiat, says it wants to consolidate electric news. hello from the bbc sport centre. let's start with another disappointing night for manchester city — this time in the champions league as they continued their wretched form, letting a three—goal lead slip to draw with dutch side feyenoord. pep guardiola's side were cruising to victory thanks to two goals from erling haaland and one from ilkay gundogan as they looked set to end a run of five straight defeats in all competitions. but they and the city fans were left stunned as feyenoord scored three goals in the final ia minutes to earn the dutch side a barely believable point at the etihad. it is what it is. difficult to swallow right now. the game was good, we scored three, we could have scored more. we did everything, at the end we gave away the win. but yes, improve, what can we do? it’s away the win. but yes, improve, what can we do?— what can we do? it's definitely one of the _ what can we do? it's definitely one of the evening _ what can we do? it's definitely one of the eve

stellantis, which also owns brands including citroen, peugeot and fiat, said it would combine its electric port in week ford announced 800 job cuts in the uk because of lower than expected ev follows a warning from nissan thatjobs at its sunderland plant — the biggest in britain — could be at risk unless the government relaxes its ev sales rules. joining me now is david bailey, professor of business economics at the birmingham business school. good morning to you, david. just explain to our viewers what are the rules?- just explain to our viewers what are the rules? they are complicated. _ what are the rules? they are complicated, essentially - what are the rules? they are complicated, essentially thisj complicated, essentially this year there is a mandate being introduced which means car companies have to sell 22% of their cars as battery electric vehicles. if they don't reach that target they could find a very heavy fine. that target then ramps up over the next few years, 28% next year, to 80% by 2030 and then there is a ban on the sale of petrol and diesel cars after 2030. pretty strict

promising, it will be costly for ottomakers and undercut players like ford, general motors and stellantis have invested a lot. they would lose out to others that sell cheaper gas powered cars so what we are hearing is ford, gm, stellantis are strategizing how to make a delicate request to donald trump. it will be an uphill battle because we know trump said these ev mandates are democrat driven and prevent americans from buying gasoline cars that they want to but what we are hearing is automakers are going to try to ask for adjustments like longer compliance times or lower penalties for automakers that don't follow the rules. of these rules even continue to exist. brian: it's a hard sell to say tax payers, we went all in on all these left-wing plans and now we want you to keep doing them even though you voted for somebody else who said scrapped. >> automakers probably will and can make, they employ thousands of people and if they fall apart as companies what does that mean for the american workforce, unemployment etc. . automakers, a lot of unions, a lot of vote to there and it is a backbo

. >>> stellantis plans to lay off 1,000 workers. workers union did not respond for comment. >>> and the fda is proposing ending the use of phenylephrine. >>> and paris' notre dame cathedral whose bells were silentfollowing the devastating fire in 2019 will soon echo again. three new bells were slivered, including one used at the paris olympic games. e used at the par olympic games. ahh, yellow! didn't pass the tissue test? buckle up! whoa! there's toothpaste white, and there's crest 3dwhitestrips white. whitens like a 400 dollar professional treatment. pilot: prepare for non-stop smiles. crest. you've got a pepto predicament, ace. you overdid it on the loaded fries and now your gut is in the gutter. undo it with pepto fast melts. so you can keep on rolling. [bowling pins knocked down] when you overdo it, undo it with pepto bismol. [♪♪] looking for a moisturizer that does more than just moisturize? try olay regenerist for 10 benefits in every jar. olay visibly firms, lifts, and smooths wrinkles, by penetrating the skin, to boost rege

there have been mounting concerns after car manufacturer stellantis decided to close its van—making factoryounced last week that it will cut 800 jobs in the uk over the next three years and today has called on the fovernment to introduce incentives to encourage drivers to buy electric vehicles. our business editor simonjack is here. this is an industry under pressure because of these targets. what is the government response? because of these targets. what is the government response? the targets are considered — the government response? the targets are considered incredibly _ the government response? the targets are considered incredibly owners. - the government response? the targets are considered incredibly owners. a - are considered incredibly owners. a portion of all the cars sold in the uk have to be electric year by year. this year it is 22%, next year 28, going up to 80% by 2030. currently we are at 18% and it is not going fast enough to hit the targets. if you don't hit them you get massive fines. hitting the revenues of companies and therefore they are laying off staff, they say. th

esto y más en nuestra edición stellantis y la información aquí en telemundo 48 no se detiene. y obtén tu propia magia durante el xfinity black friday sale. ¡clientes de xfinity internet! cámbiate a xfinity mobile y elige tu teléfono 5g gratis. además, tu siguiente línea unlimited gratis por un año. consigue ahorros increíbles y conéctate a velocidades de wifi de hasta un gig donde vayas con xfinity mobile. vuela y aprovecha nuestras mejores ofertas del año. vuela y aprovecha estas ofertas.

. >> the proposed closure of luton's vauxhall van plant by stellantis is devastating news for our townr 1,000 jobs at risk and the the future prosperity of our town threatened. can the prime minister assure me me there will be a cross-departmental response to support the automotive sector but importantly, good, skilled jobs in luton? prime minister starmer: yes, i will. and i think her for raising this because it is a difficult and uncertain time for workers and constituents in luton, and their families. that is why we are working with the industry. there will be a statement later on today, mr. speaker, about this. it is important that we do whatever we can to support these communities. >> dame harriet baldwin. >> tenbury wells was flooded for the second time by storm bert this weekend. it is a question of when, not not if it will flood again. the situation is even more devastating for residents because there is a fully developed flood defence plan that is partly funded for the town. the budget carried forward £2.4 billion for flood defences. can the prime minister commit to being able

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for the hour, lauren is looking at the movers, i would like to see what you've got to say about stellantis. lauren: they are laying off workers, 1100 energy plant in ohio, down 34% from pre-covid hi. stuart: under armour. neil: away up. 30%, they raise their annual profit forecast because they are touting their cost savings initiatives under their founder, kevin plank who returned as ceo to right the ship. he is also pushing the company to sell more sportswear at full price which is good for margins. stuart: why are you gritting your teeth? >> my dad said i can't say anything at all if i don't say something i said i can't stand that guy but writing the ship, he sells $500 million of stock, goes down 80%, then he comes back to right the ship and the company is a money loser and i have a personal thing on this. stuart: interesting -- >> i was not going to say anything which i was going to sit here and snicker. stuart: it is my fault. the match group. lauren: tender parent projected their fourth-quarter revenue would be below estimates, stock is down almost 15%, the message being sent to inve

general motors, ford, stellantis, all have major manufacturing in mexico.ond that, the problems that trump proposes to solve are already being addressed. the high border crossings had reached record lows, they dropped precipitously this year in large part because of the policies of president biden who has effectively closed the southern border. americans are responsible for most of the fentanyl smuggled in, but despite this, trump is trying to declare victory. problem is, she remembers the call differently. president sheinbaum said in our conversation i explained to him the comprehensive strategy that mexico has followed with the migration phenomenon, respecting human rights, the solution is not close borders but build conversations. this is happening seven weeks before trump takes office. we start with a professor of economics, maxwell and former analyst, who will be with me the full hour. david, start with you. the tariffs, none of it makes economic sense, especially if you were elected because americans were angry at the high price of goods. that's not w

stellantis laying off 1100 workers at a factory in ohio.eclining sales. u.s. deliveries falling to their lowest level since 2021. once again, the future of white house policy will be at the epicenter of this industry. lisa: in a big way. from ev's and regulation and what the new protocols will be also with respect to tariffs and how much the u.s. market is insulated from others. stellantis, it's been a long-standing issue and they have been trying to deal with it independent of trump. there's a question of what kind of pressure there will be to come to the u.s. and build the cars here. what kind of penalty there will be from the likes of a trump administration for a manufacturer that closes a plant or has big reductions. interesting tug-of-war about which is better or worse for companies going forward. jonathan: executives on the brink of making big decisions about where factories will be, how much staff they want have got an extra thing to worry about when they sleep at night. waking up in the night with the phone buzzing because the presi

and a stellantis plant that recently laid off, and with a lose 40,000 jobs, they endorsed kamala harris. some of the rank and file members in lockstep for the endorsement. there you go. stuart: good timing indeed. j.d. vance sat for an interview with joe rogan which he said is the biggest difference between donald trump and kamala harris. >> we are not trying to censor our fellow americans. you should be silenced because you disagree with us, that is anathema to everything we do you leave in. at least the leadership level and they have gotten comfortable with silencing people who disagree with them. >> is vance right, maybe there's more than that. >> not just between kamala harris and donald trump and it is the reason rfk junior, tulsi gavin and others, in opposition to censorship, it is a fundamental principle of liberalism. just a couple weeks ago, kamala harris is the sitting vice president of our country, did an interview with a major television network. we know that it was edited. no one spoke about it except us, it is fair to say people abandoned those principles, the least americ

going to be about compassion and last week they announced 700 layoffs at ford weird at 2400 at stellantisa thousand of general motors, the rest of the country gets a cold on automotive manufacturing, we get pneumonia. this is killing our community financially. and we talk to people going to the food pantry the last two and three days of the month to feed their families and they're both working. this is a vote for change in washington, d.c. they disrupted the automobile industry, were down 20000 manufacturing jobs since biden harris took office. my opponent voted one 100% of the time we have to change if the folks are getting at their lives back and be able to afford eggs and bacon and gasoline and rent at the end of the month. >> when ford loses $4.5 billion because of the ev mandate those are high paying career jobs in the auto industry that are about to evaporate if this madness continues. we are watching closely we wish you the best of luck tuesday. thank you. when we come back the lock dehumanizes trump supporters as voters are headed to thead polla clay travis, gianno caldwell straig

automaker stellantis is scheduling layoffs for roughly 1100 workers at a jeep factory in ohio, startinganuary. sales are down and vehicles are piling up on dealers' lots. today's announcement follows a warning in august that the company could lay off nearly 2500 workers in michigan. still to come on news hour, we examine how donald trump's re-election will affect the multiple legal cases against him. public health officials express alarm about robert f. kennedy jr potentially holding a public health position in the incoming administration. and hope for those living with parkinson's using art and music. >> this is the pbs news hour from the david rubenstein studio at weta studio in washington d.c. and from the walter cronkite school of journalism at arizona state university. amna: former president donald trump's return to the white house up into the many criminal convictions and cases he has faced over the last four years. william is here to explain what could happen next. mr. trump is now president-elect . he will assume office in just two months. out of that change the legal landscape?

to do with tariffs, that if john deere is going to move plants to mexico to build tractors, if stellantis is going to shut down, if case new holland moves to mexico as well, we're going to penalize everything that comes back across. what ends up happening, to save those jobs, those jobs still go over, and now we have nothing for the american worker. and what the biden administration had been doing is investing in making the cost of starting these businesses attainable and investing from a government perspective in the communities so that both -- everything, education, housing, all of it worked together seamlessly to raise and lift all boats. but what donald trump is proposing is that we just basically lose, lose, the proposition that chris hayes was just pointing out. >> one of the things i think is worth -- his best case politically is people like -- one of donald trump's strengths is he sees everything as zero sum. i think a lot of voters see things in zero sum. we are getting screwed. someone is ing us. there is a pie and someone is taking a big slice. that's how he views everything. t

stellantis down almost 4%.e know this is another part of the market where there is exposure to china here. they have a multinational presence as and they could be impacted by the trade war. looking at spirit makers, another asset class where we are seeing pressure this morning and another part of the market that could, indeed, be impacted by the latest announcement by the president-elect. diageo down 3%. and still moving lower this morning and let me show you these at this stage. we have pronounced moves when you think of thyssenkrupp. we will discuss that in more detail later in the show. in terms of how other parts of the market are reacting from the announcement from the president-elect, let me take you to how we traded so far in asia. look at the nikkei 225. it is down .90%. the shanghai is down marginally at this stage. when you think of the export led asian companies and how they moved so far today, indeed, a clear link in what we heard from the president-elect and how investors are positions themselves a

if you take ford, gm and stellantis together, that's $141 billion in market cap. it dwarves them. cars. i don't see how you justify this price. this market cap and continued growth. you buy it today and think it's going higher, i don't get it. sell it. >> sell it, he says. thank you for joining us today, hightower chief marketest. >>> we should circle back to shares of djt. >> they were halted for volatility. >> they were headed toward session highs and they gave the gains up and turned negative. 4% is the last print we see. >> thanks for watching "power lunch." >> "closing bell" starts right now. >>> guys, thanks so much. welcome to "closing bell." i'm scott whopner. the first polls closing in four hours' time. we'll ask our experts over the final stretch where best to invest right now, no matter the outcome. let's take a look at the scorecard with 60 minutes to go in regulation. majors have been strong all day long, off the best levels in some cases. nonetheless, positive by almost 1% o

for instance, among mexico's main exporters to the united states are general motors, stellantis and fordpany, which arrived in mexico 80 years ago. why impose a tariff that would jeopardize them? such a measure would be unacceptable and would lead to inflation and job losses in both united states and mexico. william: the chinese embassy in the u.s. also responded, saying no one will win a trade war. canadian prime minister justin trudeau said he spoke with trump on the phone later. he said he will hold an emergency meeting with canada's provincial and territorial leaders. the economic consequences of these tariffs could be enormous, involving numerous industries, including consumer goods and groceries. last year china, mexico and canada bought $1 trillion worth of u.s. exports and they sold nearly $1.5 trillion worth of goods and services to the u.s. so to help us understand more about what is happening, we are joined by economist mary lovely. she is a senior fellow at the peterson institute for international economics. thank you so much for being here. we should say we do not know if tr

theoretically go up significantly to the consumer which would be inflationary, or a gm and a ford, a stellantishose costs which means their profits would go down. so if they were imposed, it could be really significant -- jonathan: we have a graphic here of some of the kind of products that might be affected. you were mentioning cars, obviously. also computers, avenue cad avocados -- avocados. i don't have a great concern about avocados and strawberries, but you start the touching my tequila and beer, i'm going to get sit set by that. do you think this threat is merely a negotiating ploy and we will never actually see hose the kind of tariffs, or do you think there is a real chance they might happen? >> no, i honestly think the first. i think this is president-elect trump's negotiating soil. -- style. you can see it already, trudeau down in florida. we've had a response from the president of mexico. nobody wants this. we have a free trade agreement actually negotiated by trump that's worked extremely well. no one wants this tax being paid. and don't forget these countries themselves could recip

that is the more than the combined market cap of gm, ford and stellantis.lly -- the. [laughter] deutsche bank is saying they thought this trump victory would be good for tesla. they didn't think it would be this good. it's been incredible. [laughter] stuart: good lord. it takes your breath away. >> i know. stuart: we had some earnings reports before the the bell. home depot, it's up. >> yeah. so they are seeing there is still a little bit of macro uncertainty but really seeing good engagement for seasonal trends and getting a boost from some of the hurricanes as people hope to rebuild. stuart: novavax? >> the sales forecast is declining based on slowing covid trends. some of these vaccine makers fall. stuart: i'm not surprised at slowing covid trends. when who gets a vaccine these days? shopify, put them back on, please. whoa, they did well. >> surging. this solidifies the trend of people continuing to go online. they're also a signing with big box retailers like toys r us, so trying to do volume instead of the mom and pop seller. stuart source how about ty

we just lost 2500 jobs from stellantis, which was the old chrysler, a thousand jobs from general motorsrd f-150 lightning which is their electric vehicle which means merry christmas and happy thanksgiving you are out of work for the next three or four months. it's been bad. the economy and cost of goods and services followed by the border. people are very, very concerned about the lack of security on our border. >> bret: that ev issue is a big one? >> huge, huge. because the ev mandates have really kind of gotten the big three out of whack, right? so they invested all this money. ford just announced they lost $5 billion in their ev unit, which means there's no bonuses coming up this year because the government told them they had to produce these things. >> bret: congresswoman slotkin comes after you on a couple of issues. in the debate she went after you on abortion. >> mr. rogers has voted for every bill, every ban, every restriction on abortion that came in front of him for 20 straight years. he had 100 percent voting record with this party. he has never broke once. he has shown us wh

trying to do with tariffs, that if john deere is going to move plans to mexico to build tractors, if stellantis is going to shut down and case holland is going to move down to mexico, as well, that we are going to penalize everything that comes back across. what ends up happening, of course, is you don't save those jobs, those jobs still go over, now we have nothing for the american worker. and what the biden administration had been doing, is investing in making the costs of starting these businesses attainable, and investing, from a government perspective, in the communities, so that everything, education, housing, all of it, worked together seamlessly to raise and lift all boats, but what donald trump is proposing is that we basically lose-lose the proposition that chris hayes was just laying out. >> and one of the things i am worse, is best case scenario politically -- one of donald trump's strength as he sees everything as zero-sum and i think a lot of voters see things as zero-sum. we are getting screwed, someone is screwing us, there is some pie and someone is taking a big slice. donald t

you have ford, stellantis, gm honda, toyota all lower on session. american depository receipts of that stock, how is it doing today? let's take a look. you're up a little bit, right in but that doesn't really tell the story of the company's impressive sales growth. mazda sales have grown 15% year-over-year compared with the broader market'sis 1% sales growth. the company manufactures vehicles in japan, mexico and here in the u.s. but could these new tariffs put a damper on the so far stellar year? why don't we ask him? mass a ca north america ceo tom done hi are. tom, thank you so much for joining the program -- tom donnelly. i know that the tariffs are tentative right now and new, but how are you planning around this? >> yeah, thanks for the opportunity. i i would say a few things. clearly, we want, we wan policies that are going to -- we want policies that are going to support a strong, vibrant u.s. economy, right? and we've been scenario planning a bunch of different potential outcomes here for a number of months. right now about 25% of our sales

of the country catches a cold on ev debates, we get pneumonia here in michigan. 2400 layoffs at stellantis00 just announced last week at ford, and ford lost almost $4 billion on just ev sales unit alone. and so it is having a tremendous negative impact on the auto industry here and, in fact, impacting real families trying to put food on their table. so not only did they just get pink slipped, they can't afford groceries and, oh, by the way, that pink slip goes through the end of the year. is happy thanksgiving and merry christmas the a whole bunch of families who are going to be struggling coming up in the state. that's made a huge, huge difference for us. griff: and for our viewers, the biden-harris epa has a very strict regulation pushing the automakers to have a certain number, in some cases half of their car fleet, to be evs. they don't outright ban gas vehicles, but yet elisse -- elissa slotkin is saying in a recent debate she doesn't support the everything v mandate. >> this may be the most dishonest moment i've seen certainly in my career. she voted for the ev mandate maybe seven we

ford, gm, stellantis tumbling on the news. gm down over 8%. general motors. switching gears zoom communications no longer zoom video communications falling despite a beat across the board on q2 and beating estimates on guidance, not beating its guidance expectations by enough after a blowout q1 quarter. the stock is still up more than 14% year-to-date, but down almost 6% right now. scott? >> thank you. that's kristina partsinevelos. >>> we're gust getting started here. back to tell us where she is finding opportunities in the markets today. right after this quick break live at the new york stock exchange. you're watching "closing bell" on cnbc. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions

the supply chain of general motors and ford and stellantis, which is the old chrysler. and how interconnected it is with canada and mexico and how prices are the chief grievance right now for the electorate that put trump in the white house. do you really want that mutually assured destruction? kind of reminds me of the last scene of the movie reservoir dogs. infamously. what? everybody has a gun pointed at one another, kind of, you know, might feel good, but nobody wins when you look at the agreement that is currently in place is called the usmca. >> it is up for review in in 2026. to your point, surely there are people around trump who understand the negative ramifications of these kinds of tariffs. so do you think that when trump talks about slapping 25% tariffs on both mexico and canada, that it's it's more of a bluff or a bargaining chip well, read the art of the deal. >> look at his roadmap in terms of winning election in 2016. he said he was going to build this wall, this thousand mile wall and have mexico pay for it well, that wall was not completed and mexico d

what's interesting is some shares of auto companies including general motors ford and chrysler owner stellantis, are all down. look at that. gm down more than 8%. and that's because there are these concerns that trump's tariffs could mess up their delicate supply chains. he's trying to protect american car workers. but these cars are really made with parts that are made all across north america and so there is a risk that if the tariffs go into place, they will increase car prices as well. and brianna, yeah, even if it's just a negotiating tactic and setting a difficult standard potentially for these other nations to meet, it's already having worldwide impacts, at least here in the united states on the stock market. >> matt egan thank you so much for the reporting. appreciate it. thank you. still ahead, the tsa is bracing for record travel and what's expected to be the busiest thanksgiving ever. what you need to know when we come back emergency crystals pop and fizz when you throw them back and who doesn't love a good throwback now, with vitamin d for the dark days of winter from tried and true

said quote, some of the largest exporters from mexico to the united states are general motors, stellantis and ford motor company. why impose a tax that puts them at risk? and then the prime minister, deputy prime minister of canada, saying, quote, our relationship today is balanced and mutually beneficial particularly for american workers. canada buys more from the united states than from china. japan france and the uk combined. and last year, 60% of u.s. crude oil imports originated in canada. so as the arguments that we are already hearing from these countries that are reacting quickly to donald trump's threats, and trump has said and in a truth social post, that these tariffs will remain in effect until such a time as drugs in particular fentanyl and all illegal aliens stop this invasion of our country and it's not clear how trump will measure those. the progress on those key fronts and how he will decide when those goals have been met. but i will point out that he has already had a conversation with justin trudeau, the prime minister of canada, in the aftermath of these threats. and t

and then when you look at toyota, gm, ford and stellantis, the issues there, there is a multitude ofles that are built in mexico or in canada. and then sold here in the united states. and then finally, guys, waynd to look at rivian versus tesla. since the election day, and tesla, we know what is happening there, because of elon musk and his relationship with donald trump. look at rivian here. closing that loan or at least securing that loan with the department of energy for $6.6 billion. that's part of the move higher that you see in the last couple of days. >> phil, i got maybe a curveball for you, because we were talking earlier in the broadcast about the potential tariffs in mexico and canada. when you think about the big u.s. automakers, maybe even other automakers that are importing from mexico and canada into the u.s., do you have any sense of who has the greatest exposure there? >> gm. hands down, gm. 30% of the vehicles that are built in mexico are for north american sales and the bulk of that is here in the united states. then you have stellantis, 28% of its production in me

these companies ford stellantis, general motors, all import car parts and cars fully assembled from mexico canada and china. and that is why a 25% tariff on imports from canada and mexico and a 10% tax on imports from china would have a significant effect on car prices. so for viewers at home, if you own a tesla model three, a ford f-150, which is america's most popular car, parts of your car are made in mexico also, fully assembled cars from mexico are coming across the chevy blazer. chevy silverado. so all of these cars are really, really reliant on trade from canada and mexico. and why is that? is because it's simply cheaper to make these cars and parts in those countries. wages are much lower and currently there are no tariffs in place. we have free trade with with canada and mexico. that's something that president trump actually negotiated under usmca. so folks at home might be saying, well why don't we just move production to the u.s. if it's ultimately going to be more expensive to make these cars in canada and mexico? well, we simply don't have the capacity for that. also remember,

. >> ford stellantis and general motors all use parts from other countries to make their cars, and theyven bring in fully assembled vehicles from other countries like mexico. >> so a tariff of 25% on canada and mexico and even an additional tariff of 10% on china, where we still do get some car parts, will be significant for the average consumer. just look at this list of cars that are assembled here in the u.s., but get car parts from mexico, for example. you have tesla on that list. you have honda ridgeline and ford f-150, which is the best selling car in the country right now. and then look at these cars that come in fully assembled from mexico already. you have the chevy blazer, the honda hr-v the ram, and the chevy silverado. so looking at that, that is going to impact all of those vehicles and more. and the reason that u.s. manufacturers build and bring in parts from other countries, specifically mexico, is because it's a lot cheaper labor is cheaper there. and right now there are no tariffs in place this is something that president-elect trump negotiated to be able to trade freel

gm and stellantis import 55 percent of trucks sold in the united states from mexico and canada. >> you look at the pipelines and they've got completely to mexico and canada, here are some statistics about why there was a strong response. u.s. accounting for more than 83% of the export from mexico so it is a direct pipeline and had a huge conference built up. 75% of canadian exports this is a massive account for $1.8 trillion in trade. you look at this and wonder how much can you compete with when he 5% tariffs. jonathan: dropping yesterday by nine percentage points. coming up we will catch up with john of oppenheimer, of the stocks at all-time highs. donald trump completes his economic team and norman of csis on israel and hezbollah's cease-fire deals. stocks at all-time highs following seven straight days of gains. john stoltzfus remaining positive on equities and sing the broad rotation which began from last year's s&p 500 low on october 27, 2023 has repeatedly deflected volatility. john good morning. once again yesterday deflecting volatility. was that just another data point for yo

i don't see a big resins from gm, stellantis and ford on the west coast.izarre they are doing this. it appears they have truly learned nothing. lisa: it becomes personal. you wonder how much and people take the upper hand by trying to strip out personal vendettas. newsom and musk have a long-standing personal vendetta and that seems to be coming out and policies. jonathan: and that vendetta continues. investors digesting fed speak ahead of the latest fomc minutes do it 2:00 p.m. eastern this afternoon. we heard from neel kashkari saying it's appropriate to consider a december rate cut. goolsby making the case for easing. i'm thinking back to the news conference with chairman powell where he said to the news conference and participants watching there was nothing to model yet on the tariff front. do we have something to model now? lisa: can you model it from the true socials? interesting to see how the message that. both goolsby and kashkari came out and said it's appropriate to cut rates, with goolsby saying the neutral rate was going to be 2.9%. he leaned

jonathan: from stellantis he said we are talking weeks not months and we have to have a policy to stops lose momentum -- ev's lose momentum. let's talk to matthew luzzetti writing, most official's comments leaned at least slightly hawkish suggesting the december meeting is a close call between cutting and skipping. he joins us for more. so barrels, 11 cpi, how crucial are the data points? matthew: the fed is data-dependent, almost to the point where markets interpret them as being data point depended. those data points will be crucial for thinking about the fed decision. if we take a step back and think about how the economy has evolved since september, inflation coming in higher, unemployment lower, growth stronger and conditions are easier. even if we set aside the election and the impact it could have, there is a case for skipping december meeting anyway. jonathan: do you think the recent communication is consistent with a pause or a skip? matthew: it is consistent with the rate cut still on the table with the december meeting and wanting to have optionality. we have heard a few thi

gm and ford, similar story, stellantis. over decades outsourced a fair amount of their supply chain. the emphasis on re-shoring, legislation like the inflation reduction act, has led to this rethinking of whether we should be relying so much on components from overseas. the pandemic i think led to some rethinking on this front as well. annmarie: i remember when joe biden had the heads of ford and gm at the white house to show off the ev's. if we see an elimination of the subsidies for electric vehicles, how much money will ford and gm still put into this industry? craig: i think it's a great question. of the two of them come gm is much further along in its transition. they have not been without bumps in the road over the last few years of trying to stand up a battery joint venture with korean partners. they really struggled to get that off the ground but they have made some headwind in the past few months i would say, brought in a very prominent tesla executive to oversee that business. they have a lot of ev's on the market