Reported about 21 hours ago
President Trump's import tariffs on car parts from Canada and Mexico are projected to raise car insurance costs in the U.S. by around 8% due to increased prices for auto parts. With approximately 32% of auto parts sourced from these countries, potential increases in manufacturing costs for both parts and vehicles could impact consumers significantly. Experts expect that insurance rates, particularly in states like New York, will see higher premiums by the end of the year as these tariffs influence repair costs and overall vehicle prices.
Source: YAHOO