N@N

Study finds Trump's 25% auto tariffs could cost US automakers $108 billion

A study by the American Automotive Policy Council (AAPC) has revealed that former President Donald Trump's proposed 25% tariffs on imported vehicles and parts could result in a significant financial burden for U.S. automakers, potentially costing them up to $108 billion. The study suggests that these tariffs would increase the cost of production for American car manufacturers, as they rely heavily on imported components. This could lead to higher prices for consumers and a potential decrease in demand for new vehicles. The AAPC's analysis also indicates that the tariffs might not achieve their intended goal of boosting domestic production, as the increased costs could outweigh any benefits from reduced competition. The findings highlight the complex economic implications of such trade policies and underscore the need for careful consideration of their broader impact on the automotive industry and the economy as a whole.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/other/study-finds-trump-s-25-auto-tariffs-could-cost-us-automakers-108-billion/ar-AA1CHqCL ]