A tariff is a tax. Auto tariffs will raise prices on all vehicles—American-made and imported. Tariffs will hurt American auto workers. It will hurt families and it will cost jobs.
Impose a $73 billion tax increase, effectively wiping out the benefits of tax reform
Reduce annual new vehicle sale by up to 2 million units
Lead to the loss of as many as 700,000 U.S. jobs
Higher new vehicle prices: A tariff on vehicles and auto parts could increase the average price of a new vehicle up to $7,000
Higher prices for used vehicles: Tariffs would mean the average used vehicle price could rise about 10 percent, or about $2,000
Higher maintenance and repair costs: Tariffs would increase the cost of aftermarket and repair parts between 8 and 11 percent
Americans will be hurt by tariffs – should Washington stop tariffs?