Trump steel, aluminum tariffs likely to drive up car costs, industry leaders say
An employee works on the production line at the Martinrea auto parts manufacturing plant that supplies auto parts to Canada and U.S. plants in Woodbridge, Ontario on Feb. 3. Credit: AP/Chris Young
DETROIT — President Donald Trump's tariffs on steel imports this week could wreak havoc on American auto manufacturing, industry leaders say. The moves align with the Trump administration's aggressive global trade agenda and ambitions to strengthen U.S. industry, but they could have an inverse effect.
On March 12, all steel imports will be taxed at a minimum of 25%, the result of two orders the president signed Monday that also include a 25% tariff on aluminum. That could have a serious impact on domestic auto companies including Ford, GM and Stellantis — and make these companies' vehicles more expensive for the nation's car buyers.
Tariffs on crucial products coming from outside of the U.S. places pressure on domestic sourcing of the materials, experts say. The basic rules of supply and demand could drive up costs.
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