5 sectors facing price hikes from Trump’s new steel and aluminum tariffs
Ford (F) CEO Jim Farley said on Tuesday that President Donald Trump’s tariffs are causing significant costs and disruptions in the auto industry.
The anxiety within the auto industry stems from the extensive use of steel and aluminum in car manufacturing. These materials are fundamental to vehicle production, forming the backbone of structural design, interiors, and various essential components.
A report by CBS MoneyWatch (PARA) cited an expert who noted that a typical car contains approximately 1,000 pounds of steel, which costs between $6,000 and $7,000 per vehicle. According to the expert, adding a 25% tariff could increase the cost of a car by $1,000 to $1,500.
