Automotive & Transportation
Automotive and Transportation
Automotive and Transportation
Wed, November 27, 2024
[ 05:42 PM ] - Aaron Neefham
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[ 05:41 PM ] - Aaron Neefham
[ 05:41 PM ] - Aaron Neefham
[ 05:41 PM ] - Aaron Neefham
[ 05:41 PM ] - Aaron Neefham
[ 05:41 PM ] - Aaron Neefham
[ 05:41 PM ] - Aaron Neefham
[ 05:41 PM ] - Aaron Neefham
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Tue, November 26, 2024 The imported cars and SUVs most at risk of price hikes under Trump's tariff plan
- President-elect Trump announced on Monday plans to levy 25% tariffs on goods from Canada and Mexico.
The article from Business Insider discusses the potential impact of former President Donald Trump's proposed 10% tariff on all imported goods if he were to win the 2024 election. This tariff would significantly affect the automotive industry, particularly cars manufactured in Mexico and Canada. According to the article, many popular car models sold in the U.S., including the Chevrolet Blazer, Ford Mustang Mach-E, and Tesla Model Y, are assembled in these countries. The tariff could lead to price hikes for these vehicles, potentially increasing costs for consumers by thousands of dollars. The article highlights that while some carmakers have started to shift production back to the U.S., a significant portion of their production remains in Mexico and Canada due to cost efficiencies. This policy could disrupt the automotive supply chain, increase vehicle prices, and possibly reduce consumer demand, affecting both the economy and the automotive industry's strategic planning.
Read the Full Business Insider Article at [ https://www.businessinsider.com/cars-made-in-mexico-canada-trump-tariff-price-hikes-2024-11 ]
Read the Full Business Insider Article at [ https://www.businessinsider.com/cars-made-in-mexico-canada-trump-tariff-price-hikes-2024-11 ]
