Trump Announces 25% Tariffs on Imported Vehicles and Auto Parts
President Donald Trump has announced a new 25% tariff on all vehicles and auto parts imported into the United States, a move that could significantly impact the automotive industry and consumer prices. The tariffs are expected to have wide-ranging consequences for automakers and consumers. Nearly half of all cars sold in the U.S. last year were imported, according to research firm GlobalData. The announcement immediately affected stock markets, with shares of major automotive companies experiencing notable declines. General Motors saw an 8% drop in after-market trading, while Ford and Stellantis experienced approximately 4.5% falls. International manufacturers like Toyota, Honda, and Hyundai also saw their shares drop between 3% and 4%. The economic impact could be substantial. Cox Automotive predicts the tariffs could add $3,000 to the cost of a U.S.-made vehicle and $6,000 to vehicles manufactured in Canada or Mexico. […]
