Breaking News: Used Car Prices Set to Rise as New Tariffs Take Effect
As a 25% tariff on imported vehicles and parts takes effect this week, the auto industry is bracing for the impact and potential unintended consequences.
As a 25% tariff on imported vehicles and parts takes effect this week, the auto industry is bracing for the impact and potential unintended consequences.
The Environmental Protection Agency said it is initiating efforts to reverse the Biden administration’s emission laws that would push automakers to manufacture an increasing number of electric vehicles, Automotive News said.
The U.S. Department of Commerce has implemented a rule banning connected vehicle technologies from China and Russia to safeguard national security, starting with software in 2027 and hardware in 2030.
Auto suppliers are reshaping strategies as President-elect Trump’s proposed tariffs threaten supply chains. The changes aim to curb costs but raise concerns over labor and expenses, signaling a major industry adjustment.