The Impact of New Trade Tariffs

This chapter discusses the announcement of a new trade philosophy by the U.S. government that includes a universal basic tariff and reciprocal tariffs on unfair trade practices, particularly aimed at countries like China. It highlights potential consequences for the automotive industry, detailing how steep tariffs could drastically increase vehicle prices and affect consumer behavior. Additionally, public sentiment regarding the tariffs is explored, revealing significant disapproval as Republican lawmakers face backlash from constituents ahead of the 2024 elections.