Story perspectives
US Import Duties Soar 42% Amid Auto Affordability Crisis
6/23/2025
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Story summary
- In April and May, the US generated $37.8 billion in import duties, marking a 42% increase from April to May.
- Trump's tariffs have raised vehicle prices, adding an estimated $1,760 per car and costing the auto industry $30 billion by 2026.
- The car market affordability crisis deepens, with average monthly payments hitting $745; nearly 20% of Americans pay over $1,000 monthly.
