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Trump's Tariffs Could Increase the Cost of Car Ownership: Reports

President Donald Trump will impose a 25% tariff on all imports from Canada and Mexico, starting Saturday, which threatens to disrupt supply chains and impact trade-intensive sectors.
Goldman Sachs estimates that GDP in Canada and Mexico could drop by 1%-4% due to the tariffs, and prices could rise by up to 2%.
The cost of owning a car in the U.S. Could significantly increase, with experts warning that tariffs may exacerbate already rising vehicle prices and insurance premiums.
According to Ivan Drury, the average transaction price for new vehicles hit $49,327 in December 2024, up 27.6% from five years ago, indicating rising costs for consumers.

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Benzinga

Trump's 25% Tariffs Could Slaughter Canada, Mexico Economies, Hit US Auto Industry, Analysts Warn - Ford Motor (NYSE:F), General Motors (NYSE:GM)

Trade war between US, Canada, and Mexico could cause severe economic damage, raise prices, and disrupt supply chains in key industries.

24 days ago·New York, United States

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DNyuz

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Stockxpo - A professional network of traders, investors and analysts

Implemented or not, Trump’s 25% tariff threat is challenging the auto industry

DETROIT — As President Donald Trump’s threat to impose 25% tariffs on imports from Canada and Mexico as soon as Saturday looms, the global automotive industry is collectively holding its breath. For months, automakers have been taking a “wait-and-see” approach to the Trump administration’s potential tariffs. Trump promised to impose duties upon his inauguration this month, then he set a target date of Feb. 1 for levies on the key U.S. trading pa…

24 days ago

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WSVN

From avocados to autos, Trump tariffs on Canada and Mexico could hit close to home - WSVN 7News | Miami News, Weather, Sports

WASHINGTON (AP) — The 25% tax that President Donald Trump plans to slap on imports from Canada and Mexico as soon as Saturday could drive up the price of everything from gasoline and pickup trucks, to Super Bowl party guacamole dip. The tariffs would also invite retaliation. Doug Ford, the premier of Ontario, has already vowed to counterpunch by pulling American alcohol off store shelves in the Canadian province – no idle threat; Canada is the w…

24 days ago·Miami, United States

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The Star Kuala Lumpur

Explainer-Trump's Mexico tariff threats: what has been said and what would the impact be?

MEXICO CITY (Reuters) - If U.S. President Donald Trump follows through on his pledge to slap 25% tariffs on imports from Mexico it could usher in a volatile new chapter in the longstanding trade relationship with the impacts hitting consumers. Read full story

24 days ago·Malaysia

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The London free Press

ANALYSIS: Trump tariffs would hammer Ontario auto, agri-food sectors

Southwestern Ontario may be Ground Zero for the impact U.S. tariffs would have on the provincial economy, national economists warn

24 days ago·London, Canada

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CNBC

LUCK: Tariffs would disrupt U.S. manufacturing.

Philip Luck, Director of the Economics Program at CSIS, discusses the potential economic impact of tariffs on Canadian oil and broader trade with Canada and Mexico. He explains that tariffs would disrupt U.S. manufacturing due to highly integrated supply chains, particularly in the auto industry, where vehicles cross borders multiple times before completion.

24 days ago·United States

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