Many worry Mexican immigrants are coming to the U.S. and taking jobs away from Americans. But Mexicans who stay in Mexico may be doing that, too. Mexican-made autos make up 16% of the U.S. market.
When the Trump administration threatened 25% tariffs on goods coming from Mexico it had auto industry big shots quaking in their boots. Jeff Schuster of LMC Automotive told CNBC imposing such a tax could have been devastating, long-term.
"I think, initially, this is something we could see be absorbed if it's really short term, but the uncertainty is really what's at stake here and that causes a lot of jitters across the auto industry."
Schuster says just about every car company is doing business south of the border.
"More than 50% -- about 55% -- of it is with the Detroit makers; of those GM and then FCA are most at risk here followed by Nissan, Volkswagen and Toyota. So, really, it stretches across the industry."
Schuster says Detroit would have been especially hard hit if President Trump had made good on tariff threats.
Mexico certainly sent more autos than people in the first half of this year, at 1.37-million.