logo
Economists estimate new tariff costs to range between $2,000 to $12,000 per vehicle

Economists estimate new tariff costs to range between $2,000 to $12,000 per vehicle

Yahoo06-05-2025
A Michigan economics group, calculating tariff impact after President Donald Trump's latest executive orders, has estimated that the least-impacted vehicles will still face a $2,000 tariff and the most impacted will see a tariff of $15,000.
Anderson Economic Group started analyzing the costs of tariffs imposed on a variety of vehicles sold in the United States as soon as Trump signed his latest executive orders on auto tariffs, Patrick Anderson, CEO of the consulting firm, told the Detroit Free Press.
The firm's new estimates include the changes Trump made on April 29 intended to provide some relief to automakers who assemble vehicles in the United States but use foreign parts in them. The order provides a small break on tariffs for two years to allow automakers time to re-source parts from domestic suppliers.
File photo taken on June 8, 2017. Employees inspect Mercedes-Benz C-Class cars at the Mercedes-Benz US International factory in Vance, Alabama.
"The adjustments provide significant and beneficial softening of the cost impact of these tariffs, at least for U.S.-assembled vehicles," said Anderson, who is the lead author of this study. "However, the cost is still substantial for most American cars and trucks.'
Some vehicles will see a $15,000 hit
Anderson noted that many U.S. consumers have been taking no chances, saying, 'The sales surge in March confirms that Americans expect prices to go up because of tariffs, and the revised (Anderson Economic Group) estimates confirm they are right."
Anderson Economic Group estimated the tariff costs under the adjusted policy as follows:
◾Lower impact: These are vehicles assembled in the United States with substantial U.S. parts content. The estimated tariff costs will be $2,000 to $3,000 per vehicle. Examples: Honda Civic, Honda Odyssey, Chevrolet Malibu, Toyota Camry Hybrid and Ford Explorer.
◾Medium impact: Vehicles in this group will pay a tariff of $4,000 to $8,000. Some Jeep and Ram truck models are in this category, as are the Chrysler Pacifica van, BMW X3, Ford Bronco Sport and Volkswagen Jetta. Some vehicles assembled in Texas, such as the Chevrolet Suburban and GMC Yukon large SUVs, will see a tariff of just under $8,000, a reduction from the previous estimate of $11,000 in tariffs before Trump adjusted the tariffs.
◾High impact: These are mostly full-size luxury SUVs, some all-electric vehicles and cars assembled in Europe and Asia. The tariff impact on these vehicles will be $10,000 to $12,000, with some EVs and European and Asian luxury vehicles having an estimated tariff exceeding $15,000. Mercedes G-Wagon, other Mercedes sedans, Land Rover and Range Rover vehicles, some BMW models and the Ford Mach-E, fall into this group.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs

Yahoo

time8 minutes ago

  • Yahoo

Bangladesh orders 25 Boeing planes as part of push to ease US tariffs

DHAKA (Reuters) -Bangladesh has ordered 25 aircraft from Boeing (BA) and ramped up imports of key American goods in an effort to defuse trade tensions and bring down the steep tariffs imposed by the Trump administration, a senior official said on Sunday. The moves are part of a broader strategy to narrow a $6 billion U.S. trade deficit with Bangladesh and avoid a looming 35% tariff hike that has rattled the country's export sector, especially the garments industry which risks losing competitiveness in one of its largest markets. For rolling updates on tariffs, check out our liveblog > "We need new aircraft urgently, possibly within the next couple of years," Commerce Secretary Mahbubur Rahman told reporters. "Initially, it was 14 planes — now it's 25," he said, referring to an earlier plan to purchase aircraft from the U.S.-based manufacturer. Alongside the aircraft deal, Bangladesh is boosting imports of wheat, soybean oil and cotton from the United States. A new agreement signed earlier this month will see the country import 700,000 tonnes of U.S. wheat annually over the next five years. Officials hope that these steps will help improve trade relations with Washington and soften the impact of the Trump administration's tariff measures. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming?
Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming?

Yahoo

time8 minutes ago

  • Yahoo

Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming?

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. SpaceX has reportedly moved parts of its Bitcoin holdings after a long period of dormancy. Cryptocurrency intelligence platform Arkham said Tuesday on X that a wallet linked to the Elon Musk-led space exploration and technology company had moved about 1,300 BTC worth over $153 million, marking the first time the wallet has been touched since June 2022. 'SPACEX JUST MOVED BITCOIN FOR THE FIRST TIME IN 3 YEARS,' Arkham wrote. 'They sent 1.3K BTC ($153M) to a fresh address this morning.' Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— — no wallets, just price speculation and free paper trading to practice different strategies. The report has raised questions about the purpose of the transfer, with moves like this typically indicative of a wallet custody adjustment or an impending sell-off. SpaceX did not immediately respond to a Benzinga request for comment. According to Arkham data, the SpaceX-linked wallet still holds nearly 7,000 BTC worth over $830 million. Meanwhile, at last look, the transferred 1,300 BTC has not moved from the recipient address. The recent asset movement comes as SpaceX's lucrative government contracts have reportedly come under scrutiny from the Trump administration following Musk's row with President Donald Trump. Meanwhile, amid this uncertainty, the firm is seeking to raise over $1 billion to secure a $400 billion valuation. Trending: Grow your IRA or 401(k) with Crypto – . SpaceX's Bitcoin Exploration Musk first disclosed that SpaceX had added Bitcoin to its balance sheet in July 2021, without revealing how much the firm had invested in the asset. But reporting from blockchain sleuths suggests that the firm purchased nearly 26,000 BTC for about $860 million in 2021 at an average price of $33,000 per coin. Sometime down the line, however, the reporting suggests that the firm reduced its holdings to just over 8,000 BTC. This aligns with Wall Street Journal findings in August 2023, indicating that the firm had sold the asset. Similarly, Tesla purchased over 43,000 BTC worth $1.5 billion in February 2021, according to Securities and Exchange Commission filings. The firm cited a need 'for more flexibility to diversify and maximize returns' on its cash as the reason for its decision. Like SpaceX, Tesla has also significantly reduced its Bitcoin holdings to just over 11,500 BTC, worth $1.4 billion at last his firms have significantly reduced their Bitcoin holdings in recent years, Musk in 2022 said that he intended not to sell his holdings. He said this while discussing inflation concerns. 'It is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high,' he said on X at the time. 'I still own & won't sell my Bitcoin, Ethereum or Doge fwiw.' Recently, Musk has stoked speculation that he has been quietly accumulating the asset by liking a post suggesting so. He has also said his proposed political party, the 'America party,' would 'embrace Bitcoin,' slamming fiat as 'hopeless' in the wake of his disillusionment with the government's decision to pass the so-called "One Big Beautiful Bill." The act's provisions could add over $3 trillion to the national deficit in the next decade, according to estimates by the Congressional Budget Office in May. Read Next: A must-have for all crypto enthusiasts: . Image: Shutterstock This article Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Want a free E-ZPass transponder? Delaware's giving them away in August
Want a free E-ZPass transponder? Delaware's giving them away in August

Yahoo

time8 minutes ago

  • Yahoo

Want a free E-ZPass transponder? Delaware's giving them away in August

Delaware motorists have the opportunity to receive a free E-ZPass transponder during a month-long promotion this August. The Delaware Division of Motor Vehicles and E-ZPass Delaware are offering the free devices to anyone who opens a new individual E-ZPass Delaware account between Aug. 1 and Aug. 31, 2025. The offer does not apply to commercial accounts. Delaware E-ZPass account holders pay lower toll rates than out-of-state drivers or those using toll-by-plate. To help drivers estimate costs more accurately, the Delaware Department of Transportation will update its online toll calculator on Aug. 1. The update will reflect new rates for the state's three toll roads and pricing for vehicles with additional axles. To open an account, customers can visit call 1-888-397-2773, or visit an E-ZPass location in person. These include the E-ZPass Service Center in Dover and toll plazas in Dover, Middletown (Biddles Corner) and Newark. Walk-in service at toll plazas is available 24 hours a day, seven days a week. Toll fee increases set for August This free transponder event comes as tolls on several of Delaware's major roads are set to rise. Beginning Aug. 1, new rates will apply to I-95 in Newark, the US 301 Mainline and State Route 1 at Biddles Corner and Dover. On I-95 in Newark, the toll for two-axle vehicles will rise from $4.00 to $5.00 for both cash and E-ZPass users. At US 301 Mainline, the toll for two-axle E-ZPass users will increase from $4.00 to $5.00, while toll-by-plate customers will pay $7.00, up from $5.60. Toll amounts for interchanges along US 301 will vary. Drivers on SR 1 at Biddles Corner and Dover will see the following changes: Delaware E-ZPass holders: Weekday toll: $1.50 (two-axle vehicles) Weekend toll: $4.00 Cash and non-Delaware E-ZPass users: Weekday toll: $2.50 Weekend toll: $6.00 Can I use my Delaware E-ZPass outside of the state? Yes, the transponder works in the E-ZPass network, which includes Delaware and 18 other states. The 18 other states are: New Jersey Pennsylvania Maryland New York Massachusetts New Hampshire Maine Rhode Island Virginia West Virginia North Carolina Geogia Florida Kentucky Ohio Indiana Illinois Minnesota DMV fee increases to begin in October The Delaware Department of Transportation has also announced increases to DMV fees beginning on Oct. 1, 2025. Changes include a 1% increase to the document fee applied to vehicle transactions. Additionally, a new annual registration fee for alternative fuel vehicles will go into effect, affecting more than 48,000 registered vehicles in the state, according to DelDOT. MORE FEE INCREASES: Toll increases announced for Delaware Memorial Bridge. What drivers need to know State officials estimate that these increases will generate an additional $107 million annually to support infrastructure improvements across Delaware. For more information on toll rates or DMV fees, contact DelDOT Community Relations at 302-760-2080 or email dotpr@ You can contact staff reporter Anitra Johnson at ajohnson@ This article originally appeared on Delaware News Journal: How to get a free Delaware E-ZPass. Are tolls and DMV fees increasing? Solve the daily Crossword

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store