Auto Sales Surged in Anticipation of Trump’s Tariffs
Sales of cars picked up recently partly as buyers rushed to lock in deals before President Trump’s 25 percent tariffs on cars and auto parts go into effect.
It Is Happening Every Day, Every Where
Sales of cars picked up recently partly as buyers rushed to lock in deals before President Trump’s 25 percent tariffs on cars and auto parts go into effect.
Without advance notice to Canada, the U.S. president put the auto industry into turmoil with a 25 percent tariff.
Carmakers are likely to face higher costs regardless of how they respond to President Trump’s 25 percent tariffs on cars and auto parts.
With sweeping auto levies, the president is putting his beliefs about tariffs into practice on the global economy. Economists aren’t optimistic.
The scale of the damage depends on the circumstances of each company’s supply chain.
The United States is a crucial export market for the German auto industry, which is already suffering from weak sales and increased competition from China.
The measure, which is intended to bring car factories to the United States, could significantly raise prices for consumers.
Carmakers’ declines extended in after-hours trading on the news of 25% tariffs on imported vehicles. The drop reflected concerns about inflation.
The levies could hurt European automakers when the industry is already struggling, especially in Germany, Europe’s biggest economy.
The drop reflected market volatility fueled by President Trump’s whiplash on trade and concern that sweeping tariffs could reignite inflation and slow the economy.