Core Insights - The Automotive MMI has decreased by 2.3%, reflecting challenges in the US automotive market due to rising costs and potential metal supply shortages [1] - The US government has increased metal tariffs from 25% to 50% on various imports, including automotive-grade steel and aluminum, significantly impacting vehicle production costs [2] - The 25% steel tariff could add up to $1,500 to the cost of a typical vehicle, with the doubling of tariffs leading to even higher expenses for automakers [2] - Domestic steel prices have also risen, affecting automakers even when sourcing "Made in America" steel, forcing companies to either absorb costs or increase vehicle prices [4] - Critical minerals for electric vehicles, such as lithium and rare earth elements, face supply risks, particularly after China halted exports of certain rare earth metals in early 2025 [5][6] - Automakers are seeking to secure more reliable sources for critical minerals, with companies like Lucid Group collaborating with US mining and refining firms to enhance domestic battery material production [7]