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President Trump imposes tariffs on imported vehicles, raising concerns over higher car prices.
President Trump has imposed a 25% tariff on imported vehicles and parts, effective April 3 and May 3, respectively, under national security concerns.
Additional "reciprocal tariffs" of up to 50% will be applied to certain countries, including China.
This move is expected to raise vehicle and repair costs, with dealers bracing for higher prices and lower inventory.
Ford has launched a discount campaign to offset potential losses, while industry experts predict a rise in new and used car prices.
Tesla, with its strong U.S. production, is expected to be less affected compared to other automakers.