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Trump's tariffs could push up costs even if you're not buying a new car

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President Donald Trump's auto tariffs could send the cost of a new car soaring. Fixing the car you already have will likely get more costly, too.
The article from MSN discusses how former President Donald Trump's proposed tariffs, if implemented, could significantly increase costs for consumers, even beyond the automotive sector. Trump suggested a 10% tariff on all imports and a 60% tariff on Chinese goods, which would likely lead to higher prices for a wide range of products. This would affect not just new car buyers but also those purchasing everyday items like clothing, electronics, and food, as the cost of imported goods would rise. The article explains that these tariffs could lead to retaliatory measures from other countries, potentially sparking a trade war, which would further complicate global trade dynamics and increase costs. Additionally, it mentions that while tariffs might protect some domestic industries, they could also result in higher prices for American consumers and potentially disrupt supply chains, impacting the overall economy.

Read the Full CNN Article at:
[ https://www.msn.com/en-us/money/markets/trump-s-tariffs-could-push-up-costs-even-if-you-re-not-buying-a-new-car/ar-AA1BPLWL ]