As President Trump received a Commerce Department study on car imports on Sunday, an independent research group warned that if Trump imposes tariffs on cars and car parts coming into the country it will costs America hundreds of thousands of jobs and raise domestic new car prices by several thousand dollars. Even before the content of the investigation was revealed, car industry groups howled about the potential impact that putting tariffs on imported cars. Many of the imported cars come from factories in Mexico, which assemble vehicles from components made in Mexico, the US or Canada. Politicians also have been vocal in their opposition to tariffs on imported cars and car parts, reflecting opposition in their home districts. Rebranded the US-Mexico-Canada Agreement, or USMCA, the deal removes Section 232 tariffs on cars imported from Mexico and Canada, up to a maximum 2.6 million vehicles.

Source: Forbes February 17, 2019 23:48 UTC