Reported about 18 hours ago
President Trump's recent trade deals, featuring 15% tariffs on imports from Japan and the European Union, may increase average new car prices significantly, potentially exceeding $50,000. Despite initial optimism in the markets, the impact of these tariffs on the automotive industry is expected to burden American consumers, as prices are likely to rise due to increased costs of imported parts and vehicles. With ongoing negotiations with Canada, Mexico, and South Korea, further price hikes could be on the horizon, leaving buyers facing new record-high costs in a market where auto inflation has already been a concern.
Source: YAHOO