Trump Announces 25% Tariffs on Imported Cars and Car Parts
The measure, which is intended to bring car factories to the United States, could significantly raise prices for consumers.
The measure, which is intended to bring car factories to the United States, could significantly raise prices for consumers.
Carmakers are likely to face higher costs regardless of how they respond to President Trump’s 25 percent tariffs on cars and auto parts.
Businesses that rely on immigrants are pushing for legislation to ensure an adequate, legal flow of laborers from abroad as deportations ramp up.
Advocates of higher birthrates have support in the Trump administration. But it’s unclear whether their priorities will win out.
“Prices are going to shoot up now,” one shopper said. But some dealers said that economic concerns might be keeping people away.
The move added to the list of actions by President Trump that use the powers of his office to weaken perceived enemies.
The scale of the damage depends on the circumstances of each company’s supply chain.
The Federal Reserve’s preferred inflation measure showed underlying price pressures persisting in February, as inflation-adjusted spending stayed muted.
Experts say the 25 percent import fee will make many cars more expensive, but it is not clear when, by how much or which models.
In the first 50 days of his second term, President Trump’s penchant for imposing and then suspending tariffs has shaken markets and confounded trading partners.