Why auto insurance costs could rise due to tariffs and U.S. trade war

Why auto insurance costs could rise due to tariffs and U.S. trade war

Within two weeks of U.S. President Donald Trump's latest tariffs announcement, experts say Canadian auto insurers and vehicle manufacturers may not be able to recover from the damage done by levies.

Tariffs threaten to push auto insurance rates even higher

Men repair the brakes on a truck in the parking lot of an auto parts store in Middletown, Ohio, in 2024. Prices of car parts, car repairs and car insurance are expected to rise if tariffs remain in place.(Scott Olson / Getty Images North America) A slew of new tariffs, including some specific to vehicles, have many Americans reassessing their plans to buy a car — moving them up to take advantage of today's tariff-free pricing, or reevaluating wh…

Mitchell: Expect tariffs to disrupt supply chains, increase repair costs beginning this summer

New tariffs on assembled vehicles and some automotive parts are expected to disrupt supply chains and increase repair costs. However, Mitchell International says the impact likely won’t hit until mid- to late summer. A 25% tariff on assembled vehicles imported into the U.S. went into effect on April 3, and a 25% tariff on some parts is set to begin May 3. During an April 17 CIECA webinar, Ryan Mandel, Mitchell’s auto physical damage solutions cl…

Rivian Faces Rising Costs and Supply Chain Strains Amid New U.S. Auto Tariffs

U.S. electric vehicle maker Rivian is facing mounting supply chain and cost pressures following the announcement of new tariffs on imported vehicles and auto parts set to take effect later this year. The measures, introduced last month by former President Donald Trump, include a 25% tariff on imported vehicles starting April 3, 2025, and additional [...] The post Rivian Faces Rising Costs and Supply Chain Strains Amid New U.S. Auto Tariffs appea…