How would tariffs affect U.S. car prices?

At the time of writing, President Trump has suspended planned tariffs on goods coming from Canada or Mexico. But that doesn’t mean they’re off the table for good, so what would happen to car prices if they eventually went into effect?

Well, roughly 50% of our cars and car parts come from Canada or Mexico, so some experts estimate that new car prices could rise anywhere from $1,000 to $9,000. That could lead to a COVID-like surge in used car prices, too.

Would it be worth it? Well, I’m no economist – but now might be a good time to buy.

– Chris Butsch, Contributor