Automakers say Trump tariffs on Canada and Mexico will cause U.S. car prices to rise
CBSN
President Trump's tariffs on U.S. imports from Canada and Mexico could lead to higher domestic vehicle prices and dent profit margins for automakers, according to industry analysts.
The average $25,000 price of a car imported from Mexico or Canada could jump $6,250 if the tariffs take effect, according to an analysis by S&P Global Mobility. The automotive research firm forecasts that importers would likely pass most of any increase in their costs along to consumers.
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