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Automakers warn that Trump tariffs will hike some vehicle prices by as much as 25%
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Automakers warn that Trump tariffs will hike some vehicle prices by as much as 25%
Mar 4, 2025 9:49 AM

March 4 (Reuters) - A trade group representing nearly

all major automakers warned on Tuesday that new 25% tariffs on

imports from Canada and Mexico imposed by President Donald Trump

will lead to drastic price hikes.

"All automakers will be impacted by these tariffs on Canada

and Mexico. Most anticipate the price of some vehicle models

will increase by as much as 25% and the negative impact on

vehicle price and vehicle availability will be felt almost

immediately," said John Bozzella, who heads the Alliance for

Automotive Innovation.

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