Trump's Tariff On Imported Cars Will Raise The Price Of ALL Cars

Donald Trump has announced that a 25% tariff on all imported automobiles will go into effect on April 3rd. This will turn out to be a massive tax increase on all Americans who need to own a car (which is most people).

The tariff will make imported autos much more expensive by raising their price to the consumer by thousands of dollars. Take for instance a car that costs about $40,000. The tariff would raise the price to $50,000 - a jump of $10,000 dollars. The jump would be even bigger for more expensive cars. Even the cheapest new imported car will have its price raised by $5,000 to $6,000.

You might be thinking you could avoid the huge jump is price by buying one of the few cars made in this country. If you think that, then you don't understand the dynamics of corporate greed. American corporations will see this as an opportunity to get some free money. They will raise their price by 15% to 20%. They would then be slightly cheaper than the imports, but it will still cost the consumer thousands of dollars more than it does currently.

And don't think you can avoid the huge price increases by buying a used car. With the price of new cars going up by several thousand dollars, used car dealers can raise their price by thousands of dollars - and they will do that.

All the consumer can do is to drive their old car much longer. But even that will be more expensive since the tariff also includes car parts. It will be more expensive to keep your old car running longer.

Trump and his billionaire friends don't care about cars becoming more expensive. The increase is a pittance to them. But it's much worse for most Americans, who are already trying to keep up with inflation. This will make inflation much worse.

Trump, drunk with power, has either not thought this through or doesn't care about most Americans - probably both.