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From repairs to insurance, President Donald Trump’s auto tariffs could make owning a car more expensive

March 29, 2025
Source: chicagotribune.com chicagotribune.com
News Snapshot:
NEW YORK — Even if you’re not in the market for a new car, U.S. President Donald Trump’s 25% tariffs on auto imports could make owning one more expensive. The new taxes, which are set to begin April 3 and expand in the following weeks, are estimated to raise the average cost of a car imported from another country by thousands of dollars. But repairs for vehicles that currently use foreign-made parts are also expected to get pricier — and, as a result, hike insurance costs farther down the road. While the White House says these tariffs will foster domestic...
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