Trump's Tariffs Could Increase the Cost of Car Ownership: Reports
- President Donald Trump will impose a 25% tariff on all imports from Canada and Mexico, starting Saturday, which threatens to disrupt supply chains and impact trade-intensive sectors.
- Goldman Sachs estimates that GDP in Canada and Mexico could drop by 1%-4% due to the tariffs, and prices could rise by up to 2%.
- The cost of owning a car in the U.S. Could significantly increase, with experts warning that tariffs may exacerbate already rising vehicle prices and insurance premiums.
- According to Ivan Drury, the average transaction price for new vehicles hit $49,327 in December 2024, up 27.6% from five years ago, indicating rising costs for consumers.
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Coverage Details
Total News Sources0
Leaning Left12Leaning Right7Center14Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
43% Center
L 36%
C 43%
R 21%
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