Story by Kristin Dziczek
In the interest of protecting national security and strengthening the U.S. economy, the Commerce Department is considering imposing an additional tariff on U.S. imports of automobiles and automotive parts.
According to the Center for Automotive Research’s (CAR’s) latest trade briefing, applying a 25-percent tariff on all automobile and parts imports would result in 2 million fewer U.S. vehicle sales, 715,000 fewer U.S. jobs and nearly $60 billion in lower U.S. economic output.
The policy would increase the price of the average vehicle sold in the United States an average of $4,400 (including both domestic and imported products).