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Car prices could jump $6,000 as Trump's 25% import tariff kicks in | Brace for higher car prices
The new tariff on imported cars will take effect on April 2, while the import duty on car parts will go into effect on May 3. The...
In a nutshell: President Donald Trump recently announced an additional 25 percent tariff on imported vehicles and parts, raising concerns about its potential impact on the US automotive sector. While supporters argue that the policy will spur growth, attract investment, and create jobs domestically, critics warn that it will lead to significantly higher prices for shoppers. The union added that it believes the tariffs will encourage US automakers such as GM, Ford, and Stellantis to bring much of their production back to the U.S. after decades of offshoring.
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