The Center For Automotive Research (CAR) said President Donald Trump’s automotive tariffs are complex and will hike costs associated with every light duty vehicles sold or produced in the United States.
The Ann Arbor Michigan based center estimated in a new analysis that since no vehicle is entirely produced within US borders, none will escape the 25% tariff imposed by the President. Even though the President’s aim is to rebuild auto production in America, CAR said the impact of vehicle tariffs will be widespread. And may hurt.
CAR said the cost impact on all automakers in the US will top $107 billion. And for just the remaining three automakers left in Detroit, the former auto capital of the world, the tariff price tag is almost $42 billion.
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