Trump’s Tariffs (Starting Tuesday) Could Raise Car Prices by as Much as $12,000

As many now understand, President Trump’s tariff plan serves as little more than a tax on consumers, even though the president’s aim is to punish Canada and Mexico, apparently over immigration and drug trafficking. With 25% tariffs on imports from the countries set to go into effect on Tuesday, new research shines light on just what it will mean for consumers trying to buy a new car: Prices on popular vehicles like crossover utility vehicles could rise by at least $4,000 or three times that amount for an electric vehicle. So much for ending inflation. Tesla, run by President Trump’s right-hand man Elon Musk, may be the least impacted, as it manufactures its cars for U.S. customers domestically. Republicans are not the biggest buyers of EVs, though, so Trump’s base is likely about to see some sticker shock at their local Ford dealership. The Ford Bronco Sport and Maverick pickup truck, for instance, are both built in Mexico, where tariffs could hit the latter with a price increase of $ ... Read full article.