Trump Announces Auto Tariffs

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new tariffs

CNN

•

Technology

Trump to announce new auto tariffs in major escalation ahead of April 2 deadline

Summary

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73% Informative

President Donald Trump is set to announce new tariffs on cars shipped to the United States .

The tariffs could raise the prices of new cars by thousands of dollars , according to industry experts.

This comes after the Big Three US automakers, Stellantis , Ford and General Motors , successfully lobbied for exemptions to 25% tariffs on all goods from Canada and Mexico .

Trump ’s auto tariffs could impact many models that car buyers don’t realize are imports, such as the heavy duty versions of Ram pickup trucks, which are built in a Stellantis plant in Saltillo , Mexico . Some versions of the Chevrolet Silverado are also built in Mexico . Even if the automakers shift production of those more profitable vehicles back from Mexico to US factories, it would take years to accomplish the switch. For more CNN news and newsletters create an account at CNN.com .