Trump's auto tariffs: potential impact on new & used car prices

FRESNO, Calif. (KFSN) -- The car manufacture is conscionable 1 of respective bracing for the commencement of caller tariffs connected April 2nd.

"On Wednesday, it volition beryllium Liberation Day successful America arsenic President Trump has truthful proudly dubbed it," White House Press Secretary Karoline Leavitt said.

The President says tariffs volition amended the U.S. system and make much American jobs by reducing however overmuch our state relies connected overseas goods.

But UC Merced subordinate economics prof Greg Wright says it whitethorn not wage off.

He specifically addressed the 25 percent tariff connected imported cars, airy trucks and car parts.

"If the terms rises by $2,000 oregon $3,000, I mean for virtually everyone successful the US. I mean, that's a monolithic expense. And truthful you know, the fig of jobs that are going to beryllium created are astir apt going to beryllium dwarfed by these costs," Wright said.

That could besides thrust request for older exemplary vehicles.

In the coming weeks to months, consumers whitethorn get sticker daze adjacent connected utilized cars arsenic experts accidental those prices could besides to increase.

We reached retired to respective utilized car dealerships successful our area. Many told america they're monitoring the situation, but it's excessively aboriginal to cognize precisely however they'll beryllium impacted.

RELATED: Climbing car costs: car tariffs acceptable to statesman aboriginal this week volition summation conveyance values

Auto City successful Northwest Fresno says - its niche utilized car dealership volition apt travel the market.

"If the prices bash summation making america wage much for the cars, we're going to summation a small bit," Auto City manager Khalil Nassar said.

However, Auto City is hopeful it won't person to walk large costs onto customers.

"I americium going to clasp disconnected arsenic agelong arsenic I can. I don't privation to summation my prices if I don't request to," Nassar explained.

Experts accidental it usually takes a fewer weeks for customs agents to statesman collecting tariff revenues, but the White House says they volition spell into effect instantly pursuing Wednesday's announcement.

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