Why Trump's auto tariffs will weaken his working-class support
Working-class car buyers will be the hardest hit by U.S. President Donald Trump’s 25% tariff on imported vehicles because almost all low-cost new cars sold in the United States are built elsewhere. A Reuters review of data from two auto research firms found just 16 models with an average sticker price less than $30,000 and only one, Toyota's 7203.T Corolla, that is assembled in the United States. Trump told NBC news on Saturday that he "couldn't care less" if automakers hike prices, "because if the prices on foreign cars go up, they're going to buy American cars." Rising used car prices Some industry experts compared the potential impact of high tariffs to the supply-chain shortages that drove up new and used vehicle prices during the pandemic.
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