Reported 4 days ago
President Trump's recently announced tariffs on imported vehicles could significantly impact the US auto industry, potentially leading to the 'Cubanization' of the auto fleet. As prices rise due to a proposed 25% tariff on new imports, car buyers may choose to keep older vehicles longer, mirroring the situation in Cuba where antique cars dominate the landscape due to historical sanctions. This shift may affect safety standards, technological advancements, and the transition to electric vehicles, raising concerns about the broader implications for the industry and consumers.
Source: YAHOO