Headlines
Automakers warn new Trump tariffs will boost costs, cut vehicle sales
Published by Global Banking & Finance Review®
Posted on March 28, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 28, 2025
1 min readLast updated: January 24, 2026
Automakers warn Trump's 25% tariffs on imported vehicles will increase costs for U.S. consumers and reduce sales, impacting the auto industry.
WASHINGTON (Reuters) - A group representing General Motors Toyota, Volkswagen and other major automakers warned new 25% tariffs President Donald Trump plans to impose next week on imported vehicles will hurt U.S. consumers.
"Additional tariffs will increase costs on American consumers, lower the total number of vehicles sold inside the U.S. and reduce U.S. auto exports – all before any new manufacturing or jobs are created in this country," said Alliance for Automotive Innovation John Bozzella in a statement. The group represents every major automaker.
(Reporting by David Shepardson)
The article discusses the potential impact of new 25% tariffs on imported vehicles proposed by President Trump.
The tariffs are expected to increase costs for American consumers and reduce vehicle sales.
The Alliance for Automotive Innovation, representing major automakers, expressed concerns.
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