Auto prices set to rise due to newly unveiled tariffs
(CNN)– Most economists say Americans are in for sticker shock if President Donald Trump follows through on newly announced auto tariffs.
A proclamation he signed Wednesday, March 27, says they include 25% duties on imported assembled vehicles starting April 3rd.
It says tariffs on parts will begin no later than May 3rd.
Analysts say the plan could make it cost-prohibitive to sells certain cheap imports in the U.S.
They also predict price hikes on American-made cars due to the tariffs on parts.
