President Donald Trump’s 25% tariffs on autos not made in the U.S. and certain auto parts will send ripple effects through an industry that is already being pummeled by steel and aluminum import duties and on-again, off-again 25% levies on Canada and Mexico
President Trump's 25% tariffs on autos and certain auto parts not made in the U.S. are expected to increase new vehicle prices and impact the used car market. The tariffs affect an industry already dealing with steel and aluminum import duties and levies on Canada and Mexico. Automakers with global supply chains, particularly those importing large percentages of their fleets like Toyota, Mazda, and Subaru, are expected to be most affected.
