In April, President Trump implemented a 25 percent tariff on imported cars, with a subsequent tariff on auto parts starting on May 3. Trump expressed indifference to potential price hikes, advocating for consumers to buy American-made vehicles instead. While Trump and allies claim that foreign manufacturers will shoulder the burden, analysts argue that the tariffs will significantly affect a large portion of car prices, particularly under $30,000. Despite the administration's promotion of domestic purchases, industry experts warn that avoiding price increases is more complex than simply switching to American brands.
President Trump stated in a March 29 NBC interview that he hopes foreign car manufacturers raise prices due to tariffs to encourage consumers to purchase American-made cars.
Senator Bernie Moreno emphasized on CNN that the tariffs primarily hurt foreign-made vehicles, suggesting that if one car increases in price, consumers will simply switch to an American-made option.
Analysts from Cox Automotive revealed that the 25 percent tariff will affect nearly 80 percent of cars priced under $30,000, contradicting the belief that only ultra-luxury imports are impacted.
Fox News host Jesse Watters echoed Trump's sentiments, advising viewers to buy American if they are concerned about rising car prices due to the tariffs.
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