Trump’s Proposed Tariffs Could Hike Truck Prices—Here’s What to Know

by AutoExpert   |  27 November, 2024

Share :

Hey folks, if you’ve been dаydreaming about getting a great deаl on a new pickup truck, you might want to brаce yourself. It looks like President-elect Donald Trump’s latest tariff talk could throw a wrench in those plans. Before he even steps into the Oval Office this January, Trump’s been busy shaping his cabinet and dropping some major policy hints. His latest? He’s planning to slap a hefty 25% tariff on all goods coming from Canada and Mexico, and yeah, that includes vehicles.

Trump took to his social media platform, Truth Social, to announce this move. He says it's all about clamping down on immigration, claiming he'll keep those tariffs in place until he sees a stop to "drugs, in particular Fentanyl, and all illegal aliens." Quite the statement, right?

Truck Prices

Now, why should you care? Well, a lot of the trucks and cars we love are actually assembled in our neighbor countries—think the Chevrolet Silverado from Canada or the Toyota Tacoma from Mexico. And it’s not just a few models. We’re talking about 3 million new cars and trucks that roll into the U.S. every year from these places.

But here's the kicker: these tariffs could send prices skyrocketing not just for the trucks themselves but for $76 billion worth of automotive parts too. If you're doing the math, that’s a big jump at the dealership and probably not the kind you were hoping for when budgeting for your next ride.

Truck Prices

Plus, there’s a political angle here that’s hard to ignore. Trump’s tariffs would shake up the USMCA—a trade agreement he himself championed to replace NAFTA. And if the U.S. starts throwing tariffs around, who’s to say Canada and Mexico won’t hit back? That could mess with another $700 million worth of U.S. exports.

Automakers are already scratching their heads over this, figuring out what their next moves are. Ram’s head honcho Chris Fuell told Bloomberg they’re scenario planning like crazy, especially since they were hoping to boost truck production in Mexico.

Truck Prices

So, if you’re in the market for a new truck, you might want to keep a close eye on how this all unfolds. It could mean shelling out more cash or maybe postponing that purchase until things cool down on the tariff front. Either way, it’s gonna be interesting!

Recomended:

Ford Tough: These High-Mileage Legends Prove Endurance Is Everything - Photo
Ford Tough: These High-Mileage Legends Prove Endurance Is Everything

Let’s dive into a tale of endurance on the road with the world's highest-mileage Fords that just keep on truckin'. Ever wondered what it takes to hit a million miles? Well, it's a mi

AutoExpert
Driving Modes Explained: Why Your Car Has Them and What They Do - Photo
Others
Driving Modes Explained: Why Your Car Has Them and What They Do

Ever wondered why modern cars come packed with all those different driving modes like ‘Eco’ and ‘Sport’? Whether you’re rolling in an SUV that needs to tackle rugged terr

AutoExpert
Unforgettable Car Delivery Experiences: Drive Home in Style - Photo
Others
Unforgettable Car Delivery Experiences: Drive Home in Style

Let’s chat about something that every car lover dreams of—the ultimate delivery experiences from some of the world's top car brands. Think of this not just as buying a car, but as a fu

AutoExpert
Camal Scoperta Is The Ultimate Love Letter To Classic Italian Sports Cars - Photo
Tuning
Camal Scoperta Is The Ultimate Love Letter To Classic Italian Sports Cars

If you love the Caterham Seven but crave something with a bit more style, let us introduce you to the "Camal Scoperta". It’s a full-blown transformation by the creative minds at I

AutoExpert
Rivian Joins Forces With VW For The Golf 9 Electric Revolution - Photo
Car News
Rivian Joins Forces With VW For The Golf 9 Electric Revolution

The Volkswagen Golf is ready to enter a new era with the ninth generation, which will be released in 2029. For the first time in the model's history, the Golf 9 will be all electric, representing

AutoExpert
Fast, Fierce, And Fully Legal: Here's BMW M2 Polizei By AC Schnitzer - Photo
Tuning
Fast, Fierce, And Fully Legal: Here's BMW M2 Polizei By AC Schnitzer

Who says police cars have to be boring? In Germany, they’re rewriting the rules with the “Tune it! Safe!” campaign—a program that transforms high-performance cars into fully st

AutoExpert
The Most Powerful British Cars Ever Built: Legends on Wheels - Photo
Others
The Most Powerful British Cars Ever Built: Legends on Wheels

Hey car lovers, we're here bringing you the lowdown on the most beastly British cars to ever hit the streets. Now, when we talk high-octane, heart-thumping British motors, you might immediately th

AutoExpert
December’s Best Car Deals: Huge Discounts You Don’t Want to Miss - Photo
Tips & Tricks
December’s Best Car Deals: Huge Discounts You Don’t Want to Miss

Ready to snag some sweet car deals this December? Well, here are the deals to make your holiday season a bit brighter—and maybe faster if you're eyeing that Durango Hellcat with a

AutoExpert
The GMC Savana Is A Time Capsule On Wheels, Still Ready For Work In 2025 - Photo
Car News
The GMC Savana Is A Time Capsule On Wheels, Still Ready For Work In 2025

Think automakers have forgotten how to keep things simple? Not GMC. The Savana, a workhorse born in 1996, is still going strong. Rugged, reliable, and refreshingly old-school—it’s a remind

AutoExpert
Kia EV6 GT Arrives With 600+ HP and Fast Charging - Photo
Car News
Kia EV6 GT Arrives With 600+ HP and Fast Charging

Kia has unveiled the all-new GT version of the facelifted EV6, demonstrating that this is not your typical electric crossover. The GT, which makes its debut in Korea, enhances every aspect of the orig

AutoExpert