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Trump’s auto tariffs to hike car prices
- President Trump's auto tariffs went into effect, potentially raising the cost of cars in the US.
- A 25% tariff has been imposed on all imported cars, which account for almost half of new car purchases.
- The cost of manufacturing cars in the US will increase due to expected tariffs on auto parts.
- Higher car prices and potential job losses are expected as a result of the tariffs.
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