Overview

• The Trump administration's 25% tariff on imported cars took effect on April 3, with a similar tariff on auto parts scheduled for May 3.
• Industry analysis reveals that nearly 80% of vehicles under $30,000 are affected by the tariffs, including popular models like the Honda Civic and Toyota Corolla.
• Experts warn that U.S.-assembled vehicles are not immune to price increases, as many rely on imported parts subject to the tariffs.
• Cox Automotive predicts vehicle prices could rise by 10-15% over time, with even domestically produced models seeing cost increases due to supply chain complexities.
• Calls to 'buy American' by Trump and allies face criticism, as no vehicle is entirely free of foreign components, and tariffs on materials like steel and aluminum further drive up costs.