US President Donald Trump has defended his plan to impose 25% tariffs on foreign-made vehicles, stating that it will push consumers to “start buying American-made cars.” The move comes after he signed an executive order placing the tariffs on all cars not made in the US. Administration officials claim the tariffs could generate $100 billion in new revenue for the country.
However, critics argue that the tariffs may increase costs for both domestic and foreign manufacturers. Many of the largest carmakers, including Ford, Stellantis, and General Motors, already manufacture vehicles in Mexico, where they benefit from lower labor costs and trade agreements.
The US auto industry relies heavily on international supply chains, with significant trade links to Canada and Mexico. The new tariffs could disrupt these relationships, making it more expensive for domestic manufacturers to source parts and materials.
Source: https://www.10news.com/politics/couldnt-care-less-trump-not-concerned-if-car-prices-rise-due-to-tariffs