The US imposes a 25% tariff on key imported automotive parts, which may increase the cost of manufacturing a car in the US by $2000.

On the 3rd local time, the United States officially imposed a 25% tariff on imported key automotive components. Except for components produced in Mexico and Canada, which comply with the "USMCA Agreement" and are exempt, automotive components from other countries and regions will be subject to tariffs. Since this measure was announced on March 26 this year, it has caused strong dissatisfaction among U.S. automobile manufacturers, suppliers, and dealers. They have stated that importation of engine and transmission components subject to tariffs may lead to an increase in car prices, a decrease in sales, and make after-sales service and repairs more expensive. According to data from the White House, in 2024, the United States will import approximately 8 million vehicles, accounting for half of the annual car sales. In the remaining half of cars assembled in the United States, the value of domestic components accounts for only about 40% to 50%. The economic consulting firm Anderson Economic Group, based in Michigan, USA, released a report on the 1st stating that the tariff policy will increase the cost of each car manufactured in the United States by $2,000 to $12,000, ultimately passing on the cost increase to consumers through higher car prices.