President Trump's newly announced 25% import tariffs on foreign cars will increase vehicle prices by thousands of dollars for cars coming from Germany, Japan, and South Korea, as well as for the U.S.-assembled autos that use foreign-made parts, according to most auto industry experts.
However, one company likely to fare better than others is Tesla, the electric vehicle manufacturer led by close Trump administration adviser Elon Musk, industry analysts say.
Trump's latest move, set to take effect on April 2, is part of a broader global trade war launched as one of the opening acts of his second term. When announcing the new tariffs on Wednesday, he said: "What we're going to be doing is a 25% tariff on all cars that are not made in the United States. If they're made in the United States, it is absolutely no tariff."
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