What effect will Trump’s Tariffs have on car parts and cost of ownership
Tariffs serve as an additional tax on imported goods. The basic ideology behind using tariffs is to encourage local production by making goods that come oversees far too expensive. In theory the idea behind tariffs may seem sound and even somewhat patriotic however, it does not take under effect the fact that almost all modern manufacturing and production is part of the global supply chain and cutting out key suppliers that are able to manufacture various components and materials can have a devastating effect on the consumer and the US economy. car parts One of the goods that is most impacted by these new tariffs are automotive parts. Regardless if you own a Ford or a Honda , regardless if your car was assembled in a US factory or abroad, we are all effected by tariffs as they have significant implications for the cost of owning and maintaining a vehicle. The parts for both domestic and foreign brands are sourced from various countries to...