New NAFTA auto rules would spike car prices, act as a multibillion-dollar tax, study says - News Summed Up

New NAFTA auto rules would spike car prices, act as a multibillion-dollar tax, study says


WASHINGTON—New NAFTA rules could increase the cost of a car by hundreds or even thousands of dollars, act as a multibillion-dollar tax and ultimately hurt sales as consumers keep their wallets shut, a new study predicts. The study calculates that at least 46 vehicle types currently produced on the continent would fail to meet these new standards, a dramatic increase in the number of products that fail to comply with existing NAFTA rules. “Tariffs (would) add at minimum a $2.1-billion (U.S.) to $3.8-billion tax on U.S. consumers,’’ said the study, released Thursday. He’s unsure the new NAFTA rules will change that. He said it’s a no-brainer for companies trying to decide whether to adjust practices to comply with the new rules.


Source: thestar April 26, 2018 20:03 UTC



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