Trump, auto tariffs
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President Trump's forthcoming tariffs on automobiles threaten to make cars more expensive, and some consumers are responding by heading to dealerships before the levies go into effect.
From CBS News
President Trump enacted a 25% tariff on all imported cars and light-duty trucks, and a 10% minimum tariff on other imported goods.
From USA Today
U.S. buyers snapped up more pickup trucks and sport-utility vehicles in the first quarter from a year earlier in the run-up to President Donald Trump's tariffs on auto imports, which could raise price...
From Reuters
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President Donald Trump’s auto tariffs, which went into effect at 12:01 am ET on Thursday, have the potential to upend a crucial American industry and raise the cost of tens of millions of cars sold every year across the country.
The automotive industry is facing a significant challenge with the announcement of 25% tariffs on imported vehicles. President Donald Trump claims this move will boost U.S. manufacturing and encourage companies to relocate operations to the United States.
NADA CEO Mike Stanton discusses Trump’s auto tariffs, dealer concerns over affordability, and the industry’s wait-and-see approach.
Walking through a Michigan plant past whirring robotic arms and flying sparks, Swamy Kotagiri, the CEO of Canada-based auto supplier Magna reflected on how he is trying to "control the uncontrollable" in the midst of industry-shaking tariffs.
Willie Fawaz, owner of Huntington Auto Mall in Suffolk County, Long Island, told The Post that he has seen an uptick in the number of customers.
While those in the auto industry are still unsure of what 25% tariffs on cars and auto parts could mean, some say it will likely bring more people to buy used cars and hang onto them for longer.
But the automotive industry is really bracing for impact. If you need to buy a car this year, industry experts are advising you to move quickly. Matt Brannon, data journalist for Insurify ...