Trump's 25% Tariff on Imported Cars Could Devastate Working-Class Families

President Trump's proposed 25% tariff on imported vehicles is set to wreak havoc on working-class car buyers. Nearly all budget-friendly vehicles under $30,000 are produced overseas, primarily in Mexico and South Korea, meaning this tariff will hit low-cost options hard. As a result, car prices are predicted to soar, pushing affordable models further out of reach. Industry experts warn that the new car market will become increasingly inaccessible for low-income families, and the used car market will face similar price hikes as demand rises. A Reuters analysis reveals that only 16 new car models fall below $30,000, with most built abroad. This policy threatens to erase these options, leaving working-class families struggling to find affordable transportation. The ripple effect will also raise used car prices, making it even more difficult for those in need of reliable, low-cost vehicles. As the price of new cars approaches $50,000, the situation will only worsen. Trump’s tariff could worsen the financial strain on lower-income families and create a long-lasting crisis in affordable car access.

https://btcisbtc.blogspot.com/2025/03/trumps-25-tariff-will-working-class-car.html

Trump’s 25% Tariff: Will Working-Class Car Buyers Survive the Price Surge?