Trump's Tariff Threat: Car Prices May Soar as Automakers Face New Import Duties
2025-02-18
Fortune on MSN.com
The US is gearing up to impose higher tariffs on imported vehicles, which could lead to a significant price hike for new cars. The administration plans to unilaterally increase the current 2.5% duty on most new light-duty vehicles, bypassing Congress. This move may impact the automotive industry, potentially affecting car prices and sales. With the threat of increased import duties, car manufacturers are on high alert, and consumers may face higher costs. The tariff increase could also influence the global auto market, making it essential to monitor the situation. Key terms: car prices, import duties, automotive industry
