US EditionChart Reveals True Cost of Trump's Tariffs
UNITED STATES, JUL 28 – Automakers including GM, Stellantis, and VW face billions in costs from the 25% tariffs on imported vehicles and parts, raising vehicle prices by up to $9,000, Center for Automotive Research found.
- This year, Stellantis and other United States carmakers face a $1.4 billion tariff cost from President Donald Trump’s 25% trade duties.
- In parallel with trade negotiations, Trump threatened the global baseline rate could rise to between 15 and 20 percent, and a Center for Automotive Research study says tariffs would raise US vehicle costs by over $4,000 and imports by nearly $9,000.
- Several automakers disclosed that tariffs cut $1.1 billion off General Motors' profits last quarter, and Tesla reported a $300 million tariff-related cost last week.
- Amid mounting costs, US tariffs on imported vehicles have snarled supply chains, and Mary Barra warned the worst is still to come despite efforts to reduce exposure.
- Alberto Cavallo said `We observed rapid price responses to trade war and tariff-related news, with average price increases of about 3 percent for imported products since February`, and impacts may hit household budgets later this year.
13 Articles
13 Articles
By Vanessa Yurkevich On August 1, hundreds of countries will enter into a new trade relationship with the United States, following the end of President Donald Trump's pause on "reciprocal" tariffs. Thousands of American businesses will also face a new future. However, after months of uneven trade policy, planning with certainty has proven nearly impossible. "I don't think I know I'm out of the game until I'm right there, but I'm definitely getti…
By Vanessa Yurkevich On August 1, hundreds of countries will enter into a new trade relationship with the United States, following the end of President Donald Trump's pause on "reciprocal" tariffs. Thousands of American businesses will also face a new future. However, after months of uneven trade policy, planning with certainty has proven nearly impossible. "I don't think I know I'm out of the game until I'm right there, but I'm definitely getti…
Automakers are starting to reveal how much Trump's tariffs are costing them
US tariffs on imported vehicles have snarled supply chains and left carmakers facing huge costs.PHILIP FONG/AFP via Getty ImagesCarmakers are tallying up an eye-watering bill from Trump's tariffs.Jeep and Ram owner Stellantis said it expected the levies on imported vehicles to cost it around $1.4 billion this year.General Motors, Tesla, and VW have also reported big tariff hits in earnings in the past few weeks.The auto industry is still trying …
EDITORIAL. Economists agree that tariffs are harmful. But research often stops in the seminar rooms – and then myths are given free rein.
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- 73% of the sources are Center
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