Car Tariffs: This Is What You Should Know

3/31/2025

Tariffs on vehicles is set for this week. I did some research to see if anything has changed in Washington, and if they know any more on how much prices would be hiked.

Nothing has changed in Washington DC.

Reuters has a bit of a different figure out as to how much the vehicle tariffs will cost the average American.

With the amount of time it will take to change how vehicle are made around the world and the unknown prices of delayed tariffs, could add between $10,000 and $20,000 to the price of a vehicle.

It's estimated it will take decades for prices to even out and allow planning to the different supply chain.

3/27/2025

Boy oh boy has this article grown since it was first published in December of 2024. If you want to take a trip in the way-back machine, read this like an e-mail thread at work.

I'm pulling out an I-told-you-so on this one. I bought a new to me car on New Year's Eve 2024 for this very reason. My other car only had another year or two in it, so I bought another one when the payments would be substantially lower. Anyone who follows finance knows interest rates aren't going to go down with all of this uncertainty in the market.

It doesn't matter whether you like Trump or not, it's pretty easy to see through his lies and when he is dead ass serious.

Trump is DEAD ASS serious about tariffs.

The stock market knows he's serious and the markets were down. You can catch up on that here on Yahoo! Finance.

More Tariffs On Vehicles April 2, 2025

The New York Times Reports:

• There will be a 25% tariff on cars and car parts that are imported into America
• This will affect American car makers as well like Ford and GM
• Around 60% of parts in American vehicles are imported
• Around 50% of cars driven in America are imported

Car prices are expected to rise between $4,000 and $12,000.

Auto Week reports:

“If a 25% tariff is imposed, prices could increase by as much as $12,000 for some models, or as little as $4,000 for others, in both cases a cost that will almost certainly be passed on to U.S. buyers."

Now if you're thinking, "I drive a Chevy Silverado 'cause, 'Merica!" You're not safe.

Also according to Auto Week, these are the makes and models to be immediately affected:

"Made in Mexico

• Chevrolet Silverado: Some made in Silao, including the 1500 model.
• Ford Maverick: Made in Hermosillo.
• Ford Bronco Sport: Made in Hermosillo.
• Ford Mustang Mach-E: Made in Cuautitlan.
• Audi Q5: Made in San José Chiapa.
• BMW 2-Series: Made in San Luis Potosi.
• BMW 3-Series: Made in San Luis Potosi.
• Chevrolet Equinox, Equinox EV: Some are made in San Luis Potosi and Ramos Arizpe, others in Ingersoll, Ontario, Canada.
• GMC Terrain: Made in San Luis Potosí. The first gen was built in Ingersoll, Ontario.
• Ram 1500 and 2500: The Ram 1500 is made at the Sterling Heights Assembly Plant in Michigan and at the Saltillo Truck Assembly Plant in Mexico, while the Ram 2500 is made in Saltillo.
• VW Jetta, Taos and Tiguan are made in Puebla, Mexico
• Honda Fit and HR-V are made in Celaya, Mexico

Made in Canada:

• Honda CR-V: Made in Indiana, Ohio, and Alliston, Ontario.
• Toyota RAV4: In addition to other factories, this popular SUV is made in Woodstock and Cambridge, Ontario.
• Lexus NX: In addition to two locations in Japan, the NX is made in Cambridge.
• Lexus RX: Made in Cambridge, Ontario.
• Chrysler Pacifica and Voyager: Made in Windsor, Ontario.
• Dodge Charger Daytona: Stellantis Windsor Assembly Plant in Windsor, Ontario.
• Chevrolet Silverado: Made in three US plants as well as in Oshawa, Ontario, and Silao, Mexico.
• Ford Mustang GTD: Finished in Markham, Ontario.

Made in China:

• Buick Envision: Manufactured in China by SAIC-GM, a joint venture between General Motors and Shanghai Automotive Industry Corporation.
• Lincoln Nautilus: Manufactured in the Changan Ford Hangzhou Assembly Plant in Hangzhou, China.
• Polestar 1 is made in Chengdu and Polestar 2 is made in Luqiao, China."

3/4/2025 The Trump Tariffs Have Started

The tariffs start on Canada, Mexico and China today (3/4/25). The rate of the tariffs as of today is 25% for Canada and Mexico and 20% for China. Canada and China quickly imposed their own tariffs, and Mexico will be announcing their retaliatory tariffs soon.

The Stock Market Doesn't Like Uncertainty

With the escalating trade war causing tension around the world, the stock market was down 2 days in a row.

Montana Is Projected To Be Hit Harder Than Any Other State

Lending Tree reports that Montana is the state expected to be most economically impacted by the tariffs.

Montana gets 94.3% of their 7 BILLION dollars worth of imports from Canada, Mexico, and China. Higher than ANY other state.

I know there are around 58% of us who don't want to believe that we are being sacrificed. Here are all the places I found out that Montana will be hit hardest, and I stopped at 6 because, why more?

Here are the sources:

New York Times, KTVQ, Lending Tree, Montana Right Now, KULR, Mountain Journal. If you need more than that, look it up yourself.

From OEC World:  Montana imports from Canada at the tune of 8.42 Billion:

 In 2023 top imports of Montana were Crude Petroleum oils ($4.86 B), Commodities not specified according to kind ($4.86 B), Vegetable oils: low erucic acid rape...($149 M), Gaseous Natural Gas ($100 M), and Urea, including aqueous solution in packs... ($94.1 M)

2/4/2025 The Tariffs on Canada and Mexico have been delayed until March 1, 2025.

We'll keep updating you as the story progresses.

2/3/2025: Over The Weekend Trump Announced Tariffs On Canada, Mexico & China

Following through on his threats, over the weekend, it was announced tariffs will start on the countries on February 4, 2025.

As little as 20 minutes before this update, Reuters was reporting that the tariffs on Mexico have been put off until March 1, 2025.

The Stock Market Reacted Negatively

The stock market took some big swings on Monday, February 3, 2025 as reported by the Associated Press. The Dow, S&P 500 and Nasdaq all took a dive today in anticipation of the tariffs.

Exactly What Are The Tariffs Expected To Cost Average Americans?

What I'm seeing everywhere ranges from $800 this year up to $1,200 this year, it depends on the article you're reading: between $60-$100 a month.

What Items Does America Import From Canada?

What Does America Import From Mexico?

What Does America Import From China?

Scroll to see a more comprehensive list of items increasing in price from tariffs. ⤵⤵⤵

One hour from when I started updating this, Reuters is reporting that Trump will issue a trade memo today (January 20, 2025) that calls for a study of the trade between the United States, Canada, Mexico and China. There are not expected to be any tariffs issued his first day in office.

Canada Isn't Pleased

The Associated Press reported (Friday, January 17, 2025) that the Canadian foreign minister, Melanie Joly, said that Canada will retaliate if tariffs are imposed that will put pressure on the USA. She is quoted as saying, “If we need to retaliate we will do so. And Americans will discover Trump’s tariff tax,” after she met with Senators in Washington.

Who Really Pays The Price Of Tariffs?

Make no mistake about it, we, the consumers pay it in the end. Most definitions were very similar to this from Bank Rate:

...consumers often end up bearing the burden of tariffs, as companies pass along higher production costs to consumers

They can say whatever they think will sound good to you and me, but the bottom line, get ready to pay more when these tariffs go into action.

***Update 1/21/25***

As of January 21, 2025, Trump says tariffs may start for Canada and Mexico on February 1, 2025.

Tariffs Are Coming In 2025

A couple of weeks ago, Americans, and Montanans, made it clear that they don't mind paying more for goods coming in from other countries, especially China. President-elect Trump has promised high tariffs on goods imported from outside of the USA. (Like the British did on the tea back in the day before there was an America.)

Even though Americans said it was ok to pay more for imports, it would still be nice to stock up on some necessities before the tariffs raise prices on some of our most basic necessities, and some not-so-basic things.

I did some research, and I found some items that are considered shoe-ins for tariffs.

How Much Are The Proposed Tariffs?

From ABC Business, NPR, and Forbes:

Trump wants tariffs of 60-100% on goods from China and 10-20% from all of our trading partners. Economists forecast that that will raise prices for the average American household by around $2,600 a year or about $217 a month, according to PIIE.

One way to save, for now, would be to stock up on items you think you may need in the near future.

Here Are Some Of The Items Montanans Will Want To Stockpile

• Electronics: Around 90% phones, tablets, laptops, video gaming consoles, headphones, video cameras and the like are imported. Laptops are expected to jump in price 46% and smart phones around 26%
• Clothing: America imports around 80% of our clothing. Clothing prices are expected to rise by 20%
• Toys: America imports about 90% of toys, ESPECIALLY from China. Toy prices are expected to rise 55%
• Food: 32%-35% of fresh fruits and vegetables consumed by Americans are from Canada and Mexico.
• Petroleum: Both crude petroleum and gasoline come from Canada
• Cars: GM, Ford and Stellantis all have cars manufactured in Canada and Mexico

The best weapon is knowledge.

Do you go get a tv and laptop and store it for a rainy day? Maybe you pull the trigger on new phones for the family this year. Or maybe even a car. I know I'm thinking about buying extra electronics and storing them. 4 years is a long time in electronics land.

Sources: Associated Press, Reuters, Yahoo News, White House