💨 Abstract

New auto tariffs on parts, starting May 3, will impose a 25% import tax. This could cost the industry tens of billions of dollars and potentially increase the price of cars by an average of $4,000 per vehicle, according to estimates. The tariffs will impact both imported and US-made cars, as most cars contain at least some imported parts.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖