Trump’s tariffs are ‘a debacle of epic proportions’ for the auto industry

“Liberation Day” has arrived. Get ready to be liberated from affordable vehicle prices. 

As promised, President Donald Trump’s 25 percent tariffs for imported vehicles went into effect Thursday, sending the auto industry into full panic mode. Some analysts are predicting a $5,000 to $10,000 price hike on new cars out of the gate, while others are still struggling to wrap their heads around the logic of Trump’s auto tariffs. It was a nuclear-level threat for the already unsettled auto industry, with little relief in sight.