Trump’s 25% Tariff Shakes Auto World!
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Auto tariffs set to take effect within days pose car buyers with a choice: Do they dash out to dealerships ahead of possible price increases totaling thousands of dollars?
From ABC News
Working-class car buyers will be the hardest hit by U.S. President Donald Trump’s 25% tariff on imported vehicles because almost all low-cost new cars sold in the United States are built elsewhere.
From Reuters
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UAW president supports Trump’s tariffs
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"We have excess capacity. They could bring work back in very short order," Fain said.
From CBS News
Most economic analyses say average U.S. families would have to absorb the cost of his tariffs in the form of higher prices and lower incomes.
From U.S. News & World Report
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12hon MSN
President Donald Trump’s 25% tariffs on imported cars and car parts will cause “pure chaos” in the auto industry and hike car prices by up to $10,000 or $15,000, wrote analysts at Wedbush Securities.
A 25% tariff on all vehicles imported into the U.S. won't just cause new car prices to rise. Used car prices will also likely increase, analysts say.
There are still a lot of unknowns, but if this remains in place, there will clearly be some pain for the companies to digest.”
President Donald Trump followed through with plans to slap the auto industry with a hefty 25% tariff this week. Automakers are going to be impacted disproportionality.
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Auto tariffs announced by President Donald Trump will likely raise car prices by thousands of dollars, while hiking costs for repairs and insurance, some experts told ABC News. Within hours of the policy rollout, Ferrari said it will raise prices by as much as 10% for some models to compensate for the tariffs.
Even if you’re not in the market for a new car, U.S. President Donald Trump’s 25% tariffs on auto imports could make owning one more expensive.
President Trump said that he “couldn’t care less” if car prices spike because of his 25 percent tariffs on auto imports, saying the levies will prompt more people to buy American cars.