The administration’s new levies will be a massive blow to the bottom line of Ford and GM and force job cuts across the industry.

Cruz said that a Big 3 automaker told him that the average price of their cars would increase by $4,500 beginning in June.

The Trump administration’s 25% tariffs on imported cars and auto parts is expected to disrupt the auto industry and raise car prices by thousands of dollars. And electric vehicles are at particular risk.

Industry executives warn the biggest victim will be US consumers who will be paying more to buy everything from Adidas trainers to Modelo, the country’s top-selling beer. The US unveiled a baseline levy of 10 per cent with additional tariffs of up to 50 per cent on multiple trading partners,

General Motors is moving to increase production of light-duty trucks out of its Fort Wayne, Indiana, assembly plant, according to a webcast sent to plant employees and

The Trump administration is enacting a 25% tariff on imported vehicles, which could drive up car prices by more than $10,000.

President Trump’s auto tariffs are about to give another boost to car prices that have already surged over the past four years. That will be an additional burden on household budgets.

But none will cost Americans more, or shake as critical an industry as the tax on imported cars that just went into effect or the tariffs on auto parts that are due soon. America’s economy has evolved over the past half a century – today,