Trump just raised taxes

As everyone should know, tariffs are just consumption taxes. Other countries don’t pay them. Importers don’t pay them. The extra cost is just added to the retail price.

“As of 12:01 am ET on Saturday, most auto part imports will come with a 25% import tax.

“The previous auto tariffs left US-made cars untouched. Not anymore. Not a single of the 10 million cars turned out by US plants last year was built without at least some imported parts. The tariffs on parts could now mean tens of billions of dollars in new cost to the industry – and eventually to American car buyers and owners.”

And of course auto insurance will go up in tandem.

Trump’s 25% tariffs on auto parts start Saturday