News From Press Will your cars get costlier after Trump tariffs kick in? Know what will happen to your insurance premiums

Will your cars get costlier after Trump tariffs kick in? Know what will happen to your insurance premiums

Source: Hindustan Times Apr 2, 2025

President Donald Trump's auto tariffs are likely to send the cost of a new car soaring, CNN reported. Trump will be slapping 25% tariffs on imported passenger vehicles and light trucks, and also on key auto parts including engines, transmissions and powertrain components. The tariffs on vehicles will take effect on April 3, but the tariffs on parts are set to go into effect by May 3, the proclamation signed by the president confirmed.

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