Don’t wait – your gift will be doubled for a limited time.  Give Now

Mexico tariffs could hike car prices by $1,500

Kimberly Adams May 31, 2019
HTML EMBED:
COPY
“We have the highest prices in the world right now for aluminum and steel,” said Kristin Dziczek, a vice president at the Center for Automotive Research. Above, Ford Mustangs are assembled at a plant in Flat Rock, Michigan, in 2004. Bill Pugliano/Getty Images

Mexico tariffs could hike car prices by $1,500

Kimberly Adams May 31, 2019
“We have the highest prices in the world right now for aluminum and steel,” said Kristin Dziczek, a vice president at the Center for Automotive Research. Above, Ford Mustangs are assembled at a plant in Flat Rock, Michigan, in 2004. Bill Pugliano/Getty Images
HTML EMBED:
COPY

The Trump administration has threatened to levy a 5% tax on Mexican imports next month unless the Mexican government takes significant action to reduce the number of migrants crossing the southern border.

The tax could eventually climb to 25%, which would hurt a lot of American industries. The auto industry, which relies heavily on trade with Mexico, could be hit especially hard.

Click the audio player above to hear the full story.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.