Photo: David Rodriguez Munoz ~ USA TODAY NETWORK
DETROIT, April 8, 2025 ~ Amid the stock market chaos and consumer fears following President Donald Trump‘s tariffs, one of the industries expected to be most impacted is the U.S. auto industry.
Car prices are expected to rise dramatically in the coming months under Trump’s 25% tariffs on imported cars, with auto sales also expected to sharply drop. This is especially true for Detroit’s Big Three automakers General Motors, Ford Motor Co., and Stellantis, who imported 1.85 million vehicles last year, according to Yahoo Fiannce. One economist, Wedbush Securities economic analyst Dan Ives warned investors that, “The tariffs are a debacle of epic proportions for the auto industry and U.S. consumers.”
PODCAST:
April 8, 2025 ~ The auto industry in Michigan is facing substantial challenges due to tariffs. Keith Naughton, Bloomberg auto business reporter, talks with Lloyd Jackson and Jamie Edmonds about how the close integration of the state’s economy with the auto sector means that tariffs significantly affect auto suppliers and companies.
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