Trump tariffs won’t just make imports pricier — car insurance costs will go up too

Chinese-made cars in Hangzhou North Railway Station (Credit: Costfoto—NurPhoto/Getty Images)

• President Donald Trump suggested imposing tariffs on auto imports, threatening to drive up the cost of cars further amid plans for tariffs on steel, aluminum, Canada, and Mexico. But economists and the insurance industry say that this will raise auto insurance costs.

Earlier this week, President Donald Trump said he was considering a 25% tariff on cars that would “go very substantially higher over the course of a year,” but economists and the insurance industry warn they will drive up premiums.