The Brian Lehrer Show European Tariff Deal, Car Prices & The Economy
Jul 28, 2025
Alexandra Svokos, digital managing editor of Kiplinger and personal finance expert, shares vital insights on the recent tariff deal between the U.S. and the EU. She discusses General Motors' decision to keep prices stable despite tariffs and explores their effects on the automotive industry. The conversation delves into how increased import costs can ripple through various sectors, including beauty products, potentially hitting consumer prices. Svokos emphasizes the importance of stability in trade deals for both businesses and consumers.
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Tariff Pain Hits Global Automakers
- Auto companies globally face heavy costs due to a 25% tariff imposed by the U.S. president.
- Parts and manufacturing sourced worldwide complicate the impact even for American brands like GM.
Companies Delay Passing Tariff Costs
- Many U.S. companies absorb tariff costs temporarily to avoid raising consumer prices.
- They hope tariff negotiations lead to favorable changes before passing costs to buyers.
Car Prices Likely To Rise
- Experts expect car prices to rise between 4% and 8% eventually due to tariffs.
- Timing of price increases remains uncertain as trade deals evolve.