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So the components are all imported from China, then assembled in Mexico. Maybe that's an improvement, and it keeps Chinese brands from establishing themselves, but does it really matter?

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It doesn't keep Chinese brands from establishing themselves. As you noted, they'll build in Mexico and the US (See Volvo South Carolina, a Geely company, from China.) The brands will arrive in the US one way or another over the next 5 to 10 years and it will probably mean the end for non-trucks from domestic makers.

Well, Volvo had a presence in the US long before it became a Chinese subsidiary.

Of course some Chinese companies might try to penetrate the US market by manufacturing in North America, and that's already what a lot of foreign (but not Chinese) car companies do. Mazda, Toyota, BMW, etc all have factories in North America.

> levies will rise from 7.5% to 25% on lithium batteries, from zero to 25% on critical minerals, from 25% to 50% on solar cells, and from 25% to 50% on semiconductors.

> Tariffs on steel, aluminium and personal protective equipment – which range from zero to 7.5% – will rise to 25%.

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