Auto Industry Urges President Trump to Hit Brakes on New Tariffs
Many in the auto industry are urging the president to hit the brakes on his plans to slap new tariffs on imported vehicles and parts.
Protestors flooded Capitol Hill Thursday during a Commerce Department Public hearing.
With the new tariffs, buyers could be shelling out thousands of dollars more per vehicle.
The Honda Civic could cost an extra $1,100.
The Ford Escape nearly $1,600.
While an Audi Q5 could run nearly $6,000 more than usual.
President Trump says new 25 percent tariffs are meant to protect American jobs but some warn it will do the opposite.
A 25 percent tariff on automotive imports could lead to 2 million fewer cars sold across the country and could lead to the loss of nearly 118,000 auto dealership jobs.