关税扰动下的产业转型：汽车、制药和消费品行业应对策略

Navigating tariff pressures: strategies fromthe auto, pharma & consumer goods sectors EIU, part of The Economist Group,provides a forward-looking perspectiveon the global agenda. With over 75years of expertise, it delivers political,economic and policy forecasts for200 countries. EIU’s insights, backedby a network of 400 analysts, helpfinancial institutions, governmentsand multinational corporations makeinformed decisions and navigatecomplex business environments. Intelligencethat movesyou forward Our solutions Operational Risk Country Analysis Plan effectively with EIU’s expert analysis and data.From detailed country risk assessments to customisablerisk matrices, our service provides you with the toolsneeded to confidently anticipate and mitigate risks toyour operations. Understand the political, policy and economic outlook.Our Country Analysis service looks at the globaldynamics that affect your organisation, enabling youto operate effectively and plan for the future. Financial Risk Speaker Bureau Gain unparalleled insights into the global financiallandscape. Combining EIU’s market-leading dataand country expertise, our rigorous risk-modellingframework enables you to accurately identify risks tofiscal sustainability, currency and the banking sector. Strengthen your strategy and executive knowledge.Book EIU’s experts for virtual or in-person events,training sessions, or decision-making meetings. Ourbriefings offer independent insights on political,economic and policy trends affecting your organisation. Contact us for more information The full analysis in this report is available through our Country Analysis service.To arrange a demonstration or discuss the content and features, please contact usor visit www.eiu.com. New York Hong Kong London Economist Intelligence900 Third Avenue, 16th FloorNew YorkNY 10022United StatesTel: +1 212 541 0500E-mail: americas@eiu.com Economist Intelligence1301 Cityplaza Four12 Taikoo Wan RoadTaikoo ShingHong KongTel: + 852 2585 3888E-mail: asia@eiu.com Economist IntelligenceThe Adelphi1-11 John Adam StreetLondon WC2N 6HTUnited KingdomTel: +44 (0)20 7576 8000E-mail: london@eiu.com Dubai Gurgaon Economist IntelligencePO Box No - 450056Office No - 1301AAurora TowerDubai Media CityDubaiUnited Arab EmiratesTel: +971 4 4463 147E-mail: mea@eiu.com Economist Intelligence9th FloorInfinity Tower ADLF Cyber CityGurugram 122002HaryanaIndia Tel: +91 124 6409486E-mail: asia@eiu.com Industry transformationamid tariff dislocation Overview Across sectors, businesses areresponding with price increases,product range adjustments,investment in domestic production(notably in pharma), and pursuitof trade deals to mitigate their exposure to new US tariffs.This indicates a broader shift inindustrial strategy and supply-chain configuration due togeopolitical pressures. Automotive: tariffs havetaken effect On May 3rd the US imposed thesecond set of its 25% tariffs onautomotive imports–slapping a25% levy on key parts, includinginternal combustion engines andtheir components, transmissionsand powertrain parts and electrical components. This tariff, in additionto the 25% levy on imported lightvehicles that took effect on April3rd 2025, will result in extra costsfor automakers, although US-basedproduction will benefit fromsome rebates. Auto parts rebate will halve the tariff burden on US-assembled cars Value-added share of total final demand, motor vehicles, by source; % The measures are already havingan impact on the US automotivemarket, as carmakers andcar buyers pull forward theirpurchases. In the first quarterof 2025, domestic automotiveimports increased by an averageof US$1.2bn month on month,according to data from the USBureau of Economic Analysis. In linewith this, US light vehicle sales inthe first quarter of 2025 were alsoup by 4% year on year, as motoristspulled forward their purchases in a bid to avoid potential price hikesfrom April onwards. With the effect of May’s tariffs onlyjust feeding through, further priceincreases in the year are likely.This will weigh on US auto sales inthe second half of the year. Whileimports of heavy trucks are notcurrently affected by the automotivetariffs, manufacturers of thesevehicles are being hit by new tariffson steel and aluminium, presentinga further challenge for the industry. Auto trade partners looking totrade deals to reduce the hit Looking to provide a fillip to itseconomy and the automotivesector, the UK signed large tradedeals with the US and India inMay. The agreement with theUS, announced on May 8th, is apreliminary 12-month interim tradede-escalation, which should lead toa wider deal later. The agreementincludes an export quota of 100,000UK cars, which will now face onlythe 10% reciprocal tariff that the USapplies to all trade partners (ratherthan the existing 25% auto tariff). will cover more than 80% of UK carexports to the US (about 100,000-120,000 units a year). This willsupport British automakers suchas J