Story perspectives

Tariff Fears Drive 36% of Car Buyers to Act

11/22/2025

Summary

Story summary

J.D. Power reports 36% of car buyers consider tariffs when purchasing a vehicle this year.
The same survey shows 87% of these buyers expedited purchases due to anticipated tariffs.
European and Japanese vehicle buyers were most affected, and tariffs have not yet raised prices but may increase costs.
BJ's Wholesale Club raised its profit forecast after better-than-expected earnings, and Gap's stock surged after strong quarterly results and optimistic holiday projections.

History

Historical Context

The Smoot-Hawley Tariff Act, signed by President Hoover on June 17, 1930, raised U.S. tariffs on over 20,000 imported goods, averaging 20%. This protectionist measure led to retaliatory tariffs from countries like Canada and the UK, contributing to a 67% decline in international trade during the Great Depression, and continues to influence consumer behavior regarding tariffs today.

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Story summary

J.D. Power reports 36% of car buyers consider tariffs when purchasing a vehicle this year.
The same survey shows 87% of these buyers expedited purchases due to anticipated tariffs.
European and Japanese vehicle buyers were most affected, and tariffs have not yet raised prices but may increase costs.
BJ's Wholesale Club raised its profit forecast after better-than-expected earnings, and Gap's stock surged after strong quarterly results and optimistic holiday projections.

1 / 2