Trump’s Big Move: Car Prices Set to Skyrocket?

WooGlobe

The US is signaling a major shift in trade policy that could send shockwaves through the global car industry :automobile::collision: Commerce Secretary Howard Lutnick hinted that if tariffs on foreign cars are imposed, they will apply to all countries—including South Korea, Japan, Germany, and the UK :globe_showing_Europe-Africa: With President Trump expected to make an official announcement on April 2, automakers are bracing for impact :money_with_wings:  European brands like BMW, Mercedes, and Volkswagen could be hit the hardest, with BMW already forecasting a €1 billion loss :chart_decreasing: The move comes as the US aims to balance trade, arguing that the EU's 10% import tax on US cars is unfair compared to America’s 2.5% tariff on European imports :balance_scale:  Carmakers are now scrambling to adjust, with many increasing US production to avoid the potential tax hike :factory: Will this move reshape the global auto market? Or is it just a negotiating tactic? Stay tuned for more updates! :police_car_light: WooGlobe Ref : WGA799229 For licensing and to use this video, please email licensing@wooglobe.com

Transcript

00:00Big news in the auto industry, the U.S. is signaling a major move that could shake up

00:04car prices worldwide.

00:06Commerce Secretary Howard Lutnick just hinted that if tariffs hit foreign cars, they'll

00:11hit all foreign cars that means automakers from South Korea, Japan, Germany, and the

00:16U.K. could be in for a rough ride.

00:19The announcement is expected on April 2, with President Trump likely to set the stage for

00:23a huge policy shift.

00:26European automakers are bracing for impact BMW is already warning of a 1 billion euros

00:31hit this year, Mercedes, Volkswagen, and Stellantis are also scrambling to adjust their strategies.

00:38Why now?

00:39The U.S. is pushing for a level playing field, the EU charges a 10 percent import tax on

00:44U.S. cars, while the U.S. only charges 2.5 percent on European imports, that could be

00:49about to change, big time.

00:52With billions at stake, car makers are rushing to expand production in the U.S., BMW already

00:58makes 400,000 cars a year in America, but others may have to follow suit to survive.

01:04Is this a negotiating tactic or a real game changer?

01:07What do you think?

Category

Transcript

Comments

Recommended