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U.S. Imposes 25% Tariff on Imported Electric Vehicles

4/11/2025

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Summary

Story summary

The U.S. has introduced a 25% tariff on imported electric vehicles (EVs) and plug-in hybrids, targeting models assembled overseas.
American brands like Chrysler and Ford are affected due to production in Canada and Mexico.
New tariffs on auto parts will begin in May, increasing costs for automakers.
Manufacturers, including GM and Toyota, are reducing electrification plans due to rising costs and waning buyer interest.
About 35% of EVs sold in the U.S. last year were assembled abroad, impacting Japanese and European brands significantly.

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Story summary

The U.S. has introduced a 25% tariff on imported electric vehicles (EVs) and plug-in hybrids, targeting models assembled overseas.
American brands like Chrysler and Ford are affected due to production in Canada and Mexico.
New tariffs on auto parts will begin in May, increasing costs for automakers.
Manufacturers, including GM and Toyota, are reducing electrification plans due to rising costs and waning buyer interest.
About 35% of EVs sold in the U.S. last year were assembled abroad, impacting Japanese and European brands significantly.