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Pymnts

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Car and Car Repair Prices Expected to Jump With New Tariffs

  • New 25% tariffs on imported cars and auto parts are now in effect in the U.S.
  • The levies are expected to drive up the price of new vehicles by thousands of dollars.
  • The cost of assembling and repairing a car will also increase due to the tariffs on imported auto parts.
  • Analysts suggest that the tariffs could lead to price increases for used cars and may lower economic output.

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