Price hikes, idled factories, layoffs: how car companies are responding to Trump’s tariffs
From Audi to Volvo
President Donald Trump’s 25 percent tariffs on all auto-related imports have been called “a debacle of epic proportions†and a sure-fire way to tank the auto market by crushing demand. Analysts have been predicting everything from $12,000 per vehicle price hikes to the possible “Cubanization†of the US car fleet.
Now that they’ve had a few days to process the news, the automakers are starting to get their ducks in a row and make some moves.
Here’s how each company is responding...