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News in English (USA) / 06.04.2025 / 21:00

US Auto Industry Faces Challenges as New Tariffs Take Effect

As the new 25% tariffs on imported vehicles officially come into effect, the US auto industry is experiencing significant upheaval. Automakers like GM and Ford have reported increased sales as consumers rushed to buy vehicles before price hikes hit, but experts warn that the tariffs could lead to higher prices and increased insurance premiums for consumers. The electric vehicle sector, however, finds itself as collateral damage amidst the trade tensions, with several planned EV and battery factories being canceled. Dealerships across the country are preparing for these changes, while industry leaders express concerns over potential job losses and the long-term viability of affordable cars in the market. The situation is further complicated by international reactions, as the EU plans to implement countermeasures against the US tariffs.
NPR, Business Insider, Fox Business, AP News, Toronto Star, The Autopian, USA Today, The Salt Lake Tribune, CNBC, MLive.com