Nearly half of the cars sold in the US are imported and Trump’s 25% tariff will add at least $6,000 to the sticker price of the average car, industry experts sayAfter two months of flip-flopping on tariffs, imposing them one day and often suspending them the next, Donald Trump gunned the accelerator of his trade war on Wednesday by announcing a 25% tariff on autos and auto parts imported into the United States. That’s a very big deal, and while the president insists this hefty import tax on cars is going to be good for “anybody who has plants in the United States”, his move – like a car in desperate need of a tune-up – could easily backfire.Nearly half of the cars sold in the US are imported, and Trump’s 25% tariff will add at least $6,000 to the sticker price of the average car, industry experts say. Domestic auto producers will be able to jack up their sticker prices because the new tariffs will make US automakers face considerably less price competition from imported cars. This e...
Donald Trump's 25% tariff on imported autos and auto parts could increase car prices by at least $6,000, potentially angering consumers and causing a drop in auto sales and production. While the goal is to encourage domestic auto production and benefit US automakers and workers, the move could backfire. The UAW supports the tariffs, hoping they will end the "free trade disaster" and boost domestic manufacturing.
