Trump’s 25% Tariff Shakes Auto World!
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Auto analysts estimate that the tariffs will add $4,000 or more to the prices of many new vehicles that are assembled outside the United States.
From The New York Times
Heavy volatility is expected, with stock prices swinging wildly on factors such as how steep the tariffs will be, their duration, which countries and sectors they will target and any retaliatory meas...
From Reuters
"I think you're going to have a country that's going to boom."
From Reuters
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Auto dealers in Daytona Beach offered different reactions to the new 25% tariffs on foreign-made autos and parts currently set to begin April 2.
I am very concerned tariffs are going to raise construction costs across the board,” said veteran Arizona developer Steve Betts.
Ferrari plans price increases of up to 10% on some of its models after the introduction of U.S. auto tariffs, as the sports-car maker races to mitigate a hit from the duties. U.S. President Trump said he will impose 25% tariffs on all vehicles imported to the country from April 2,
Tariffs will hit a $240 billion trade route, with imported cars and light trucks accounting for about half of the roughly 16 million vehicles sold in the US last year
Trump’s trade policies have sent stocks tumbling over the past month, with investors fretting that the levies he’s pledged to impose will cause inflation to flare up and weigh on growth. The White House has branded April 2 “Liberation Day” because it’s when reciprocal tariffs are set to take effect,
They added that Trump's new tariffs could potentially hit every single American with an extra $2000 (£1545) in annual costs. The US imported about eight million cars last year -