Car Prices Expected to Rise as Tariffs on Parts Kick In
Tariffs on imported parts will have a broad impact because all vehicles use components made abroad.
It Is Happening Every Day, Every Where
Tariffs on imported parts will have a broad impact because all vehicles use components made abroad.
The company said it would offer customers the same prices it offers its employees on most of its vehicles.
The president said he “couldn’t care less” if automakers rose prices in response to planned tariffs, reasoning that buyers would choose U.S.-made cars over foreign brands.
The scale of the damage depends on the circumstances of each company’s supply chain.
President Trump’s approach to tariffs has unsettled many corporate leaders who believed he would use the levies as a negotiating tool. As it turns out, he sees them as an end in themselves.
The S&P 500 jumped about 1.2 percent on Wednesday, after two days of declines. Shares of automakers rallied.
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
Rules for a $7,500 tax break for electric vehicle purchases and leases recently changed, but more far-reaching changes are expected when President-elect Donald J. Trump takes office.
The United Automobile Workers union asked a federal labor regulator to conduct an election at a factory Ford jointly owns with a South Korean battery company.