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Capitol Report: Trump’s threatened car tariffs could add thousands to sticker price

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Will the price for cars jump?

As the Commerce Department on Thursday held a hearing on threatened tariffs on autos, an industry representative quantified just how much it would add to the cost of vehicles.

Related:Ross says it’s too early to say if auto tariffs will be imposed

“Simply put, auto tariffs are a massive tax on consumers. Industry analyses show that a 25% tariff would raise the price of an imported car nearly $6,000 and the price of a U.S.-built car $2,000,” said Jennifer Thomas, vice president of federal government affairs at the Alliance of Automobile Manufacturers.

The average transaction price of a new full-size car in December was $34,113, according to Kelley Blue Book.

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