Jun 1, 2019
Mexico tariffs could hike car prices by $1,500
The Trump administration has threatened to levy a 5% tax on Mexican imports next month, which could go as high as 25%.
“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
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.
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