US EditionUK carmakers back Keir Starmer’s no-tariff approach to Donald Trump
- President Trump's new 25% tariffs on imported cars and auto parts, based on a 2019 national security investigation, are scheduled to begin in April 2025, aiming to bolster U.S. Manufacturing but poised to increase vehicle prices and squeeze automakers.
- The Commerce Department's investigation concluded that the growing market share of imported cars negatively impacted U.S. National security by eroding the industrial base and affecting domestic automakers' ability to develop advanced technologies for military use.
- Analysts predict that consumers will face higher vehicle costs, potentially ranging from hundreds to thousands of dollars, with some estimates projecting price increases between $5,000 and $15,000, while Cox Automotive expects disruption to North American vehicle output, potentially cutting production by roughly 30%.
- Sam Fiorani from AutoForecast Solutions stated that consumers will see already expensive new vehicles cost hundreds to thousands more and those prices will escalate even more when the supplies of many key vehicles dwindle.
- The tariffs are expected to generate $100 billion in annual revenue for the U.S. Government, but they may also lead to retaliatory tariffs from other countries, production delays, reduced sales, shifts in R&D investment, and a potential global trade war, with equilibrium not expected for years.
12 Articles
12 Articles
Impact of auto tariffs
EL PASO, Texas (KVIA) - Buying a new car and getting your car fixed could get a bit pricier due to President Trump's auto tariffs. On Wednesday, Trump said he is imposing 25% tariffs on car parts coming into the US, in addition to fully assembled vehicles. The tariffs on the vehicles are set to take effect on April 3, the tariffs on part may go into effect no later than May 3, according to the White House. The post Impact of auto tariffs appeare…
Analysts See Turbulent Year Ahead for Auto Market as Tariffs Loom
Looming tariffs on auto imports and a potential trade war are expected to lead to higher prices for consumers and tighter inventories of new and used vehicles in the United States, according to Cox Automotive’s 2025 market forecast. On March 26, Cox Automotive industry analysts gave a media presentation highlighting first-quarter market insights and performance expectations for the year ahead. Founded in 1991, Cox Automotive provides vehicle rem…
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