Next Article
Business
•
Jun 19, 2025
Trump's auto tariffs to increase car prices
Thinking about buying a new car? Trump's proposed $30 billion auto tariffs could bump up prices by almost $1,760 per vehicle, hitting American wallets pretty hard.
Experts say this could mean one million fewer cars sold in the next three years, though things might bounce back to normal sales levels by 2030 as the tariffs ease.
TL;DR
US may fall behind in EV adoption race
GM and Ford are bracing for major financial blows—$5 billion and $2.5 billion losses—so they're rethinking their pricing strategies.
On top of that, cuts to EV tax credits (down from $7,500) could slow down electric vehicle adoption in the US, making gas cars more appealing and possibly leaving American automakers behind as other countries push ahead with clean tech.