Reported about 16 hours ago
The automotive sector, including major companies like Ford and General Motors, is experiencing significant pressure due to President Trump's newly implemented 25% tariffs on auto imports. Experts predict these tariffs will worsen affordability issues already plaguing the market, potentially raising vehicle prices by around $3,000 and leading to a demand decline of 15-20% for new car purchases in 2025. Automakers are responding with various strategies, including production halts and employee pricing adjustments, as they navigate this challenging landscape.
Source: YAHOO