President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.
With almost half of auto parts used in the manufacture of U.S.-owned automobiles coming from outside the country, the industry faces mounting costs of production and shrinking profit margins, while suppliers face competitive pressures to move production domestically.
A 25% tariff is about to hit every imported car starting April 3. I went to an auto shop to find out how this will impact the price of repairs so you don't waste your money.
The White House announced new tariffs on imports of automobiles and auto parts under Section 232. The new Presidential Proclamation and Fact
President Trump has been hinting at 'Liberation Day' for weeks now. Reports suggest he will implement reciprocal tariffs. What does that mean for AL?
Cheung suggested for car buyers to go to the dealership and ask which cars are made domestically and which ones might be imported, as imported vehicles and car parts are facing the tariffs.
Detroit Auto Industry ... stockpiled some parts, and stockpiled some vehicles across the border so they could weather tariffs of a couple of weeks without it having a major impact.
New tariffs have taken effect, and consumers could be paying more for everyday products, including building materials, groceries, and auto parts ... and the impact has been immediate.