Tariffs Could Add $3,000 To Cheap Cars, Slamming Budget Buyers
American car buyers hunting for budget-friendly deals might be out of luck, as proposed tariffs loom on the horizon. President-elect Donald Trump wants to impose tariffs on cars imported from Mexico by as much as 25 percent. For now, it’s unclear whether these proposals are simply a negotiating tactic or a genuine policy in the making. For years, buying an affordable car has felt like running on a treadmill set to “uphill”- you’re going nowhere fast, and it’s exhausting. Now, that grind could get even more challenging. President-elect Donald Trump’s proposed import tariffs on vehicles made in Mexico and Canada are shaping up to deliver a serious gut punch to budget-conscious car buyers, hitting them where it hurts most: their wallets. More: Trump’s Tariffs Could Cut 17% From Automaker Profits It’s no secret that Mexico has become a major hub for affordable car production. In fact, today, around a third of vehicles priced under $30,000 sold in the U.S. are made south o...