US President Donald Trump has announced plans to soften his automotive tariffs. According to Usha Haley, an expert on autos, the move will provide some relief but won’t eliminate rising prices entirely. Haley notes that cars with domestic parts and compliance with the US-Mexico-Canada Agreement are exempt from tariffs at this point. However, even with the reduced tariffs, imported auto parts still make up 80% of a car’s cost, leaving room for future price hikes.
Source: https://qz.com/cars-price-increases-tariffs-1851778698