7 months ago
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The US will append a 25 percent tariff on top of any existing tariffs on all cars produced outside its borders. Additional fees will be imposed on imported components too like engines, transmissions, powertrains and electrical components. There’s a number of carve outs for US-based companies, as well as those sourcing gear from Mexico and Canada. But the move has been taken under the guise of “protecting” America’s car industry from imports.
Of course, hefty tariffs are no guarantee consumers will flock to buy American if other brands are pricier. We’ve been here before: The ’70s oil shock meant bulky and inefficient American cars were suddenly money pits. That made light and efficient Japanese cars far more attractive to buyers who didn’t want to go broke at the gas pump. And that was despite a tariff regime that, as Source: https://www.engadget.com/general/the-morning-after-will-the-us-imported-car-tariffs-work-112509770.html?src=rss Disclaimer of liability !!!
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