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Trump's auto tariffs to cover more than $460 billion of US vehicle, parts imports

  • U.S. President Donald Trump's 25 percent tariffs on imported cars took effect, impacting the South Korean automotive industry significantly as the U.S. is a key market for their exports.
  • Hyundai Motor Group plans to invest $21 billion in the United States by 2028 amid the new tariffs, which may raise vehicle prices by an average of $5,300.
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Lean Left

The automobile industry has been facing one challenge after another for the past five years. In addition to the already past shortage of microchips and post-Covid-19 components, competition with China, the switch to the electric vehicle and the demands to reduce emissions, it has already been added to the levy of 25% tariff on all vehicles imported to the United States by Donald Trump’s trade war against the world. The effect of these tariffs, w…

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  • 40% of the sources lean Left
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IER broke the news in on Wednesday, April 2, 2025.
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