President Trump announced tariffs of 25 percent on vehicles and car parts imported into the US Wednesday. The tariffs, due to take effect April 3, are expected to raise vehicle prices and result in fewer cars built, said CarandDriver.
Trump had previously temporarily paused tariffs on autos.
About half the vehicles sold in the US are imported and the tariffs are expected to increase vehicle prices by $4,000 to $10,000, reported Automotive News.
See more at CarandDriver, and Automotive News
The great reset!
That’s troubling news. New cars have already outpaced inflation by a lot in the last few years. They’ve become unaffordable, and loan terms have been lengthened to accommodate the prices.