Trump’s Tariffs Could Increase U.S. Car Prices by $12,000 🚗

Impending tariffs on Canada and Mexico could drive up U.S. car prices by as much as $12,000, intensifying affordability concerns and disrupting supply chains. The report estimates crossover utility vehicle costs will rise by at least $4,000, while electric vehicles could see a $12,000 increase, with automakers likely passing these expenses to consumers. A 25% tariff on Canadian and Mexican imports is set to take effect on Tuesday and risks exacerbating an already challenging market.