Trump’s tariffs are raising the prices of new vehicles and threatening the finances of buyers looking for a way to purchase, which are leaving them deeper in debt, new studies show.
tariffs car prices
More Trump Tariffs Coming This Week; Expect to Spend More for Your Next Vehicle
Barring a last-minute change of mind, the White House has signaled Pres. Donald Trump will announce new tariffs targeting America’s largest trading partners, Canada and Mexico, on Tuesday. The move is expected to increase the cost of many common goods substantially, including not only fully assembled vehicles imported from America’s nearest neighbors but other cars, trucks and crossovers assembled in the U.S. That’s because virtually all of those models rely on at least some Mexican and Canadian parts, components and raw materials.