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Get set to pay more for a new car now Trump's tariffs are here

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The 25% levy on all imported passenger vehicles and key components set to take effect next week is likely to add thousands to the price of new cars.
The article from MSN discusses the impact of new tariffs imposed by former President Donald Trump on imported vehicles, which are now coming into effect. These tariffs, aimed at protecting U.S. auto manufacturers, are expected to increase the cost of new cars for American consumers. The tariffs specifically target vehicles and automotive parts from the European Union, China, and Japan, with rates that could add thousands of dollars to the price of imported cars. This move has sparked concerns about potential retaliation from trade partners, increased costs for consumers, and possible disruptions in the global automotive supply chain. Additionally, the article mentions that these tariffs could lead to a decrease in competition, potentially allowing domestic manufacturers to raise prices further. The automotive industry is bracing for these changes, with some companies already adjusting their pricing strategies and others lobbying for exemptions or modifications to the tariff policies.

Read the Full Insider Article at:
[ https://www.msn.com/en-us/autos/news/get-set-to-pay-more-for-a-new-car-now-trumps-tariffs-are-here/ar-AA1BLLjN ]