New Camry? We've Got Trade War Bills to Pay
Trump’s tariffs will hit American consumers in the pocket.
Hold the extras, we’re on a budget.
Photographer: Lexington Herald-Leader/Tribune News Service/Getty Images
How many Americans do you know who’d be willing to spend $2,000 more on a regular car? Not many, chances are. They’re the ones who’ll be helping to pay for President Donald Trump’s trade war.
Automakers are starting to get their heads around the dollar cost of tariffs. Toyota Motor Corp., becoming more vocal about the impact, said this week that it would cost an extra $1,800 per vehicle to produce its American-made Camry — the country’s best-selling car — under the 25 percent duty on automotive imports that the Trump administration is reportedly considering. The Tokyo-based carmaker has a 15 percent market share in the U.S.