Car Prices Could Skyrocket if Trump Imposes Tariffs

News Hound

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Jan 7, 2019
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Here's some news rideshare and delivery drivers should be aware of and keep an eye on. President Turmp is is considering slapping a 25% tariff on car imports. If he does, prices could rise on a $15,000 car by as much as $3,700! But I don't even know of any $15,000 cars anymore. The ones we're using are more like around $20,000 - $25,000. Imagine a $20,000 car suddenly costs $25,000! Or a $25,000 car costs $31,250. Outrageous, huh?

And don't think you're going to get off the hook by buying used. What is a $20,000 car today will cost say, $14,000 after some use. But that same car under the same conditions, if purchased originally for $25,000 would cost $19,000 instead of $14,000. So the used car you've been thinking you'd pay $14,000 for might suddenly cost $19,000.

What to Look Out For
Here's what we all need to watch out for in the coming few days. By Sunday, Turmp's Commerce Department is supposed to issue an opinon on wehter or not auto imports -- get this -- "endanger U.S. national security"! And if they find that they d, then Turmp will have 90 days to decide whether or not to impose up to 25% tariffs on them.

So watch the news between now and Sunday and keep an eye out for that.

This could be very bad for all of us. And you know the gig companies aren't going to raise rates correspondingly to help us pay for this what would be a huge new expense. If we hear that the Commerce Department does say that imported autos are endangering us, now would be a great time to buy a new car - IF - you were seriously thinking about doing so anyway. Get 'em now before the prices skyrocket.