Trump's 25% tariffs will lead to auto industry 'Armageddon,' analyst warns

News Room
By News Room 4 Min Read

The global automotive industry is facing ‘Armageddon’ thanks to the latest salvo in U.S. President Donald Trump’s trade war, says a leading industry analyst.

In a research report released Friday, Wedbush Securities managing director Daniel Ives said the 25 per cent tariff on auto imports to the U.S. will result in an almost-immediate increase of $5,000 to $15,000 in the price of a car for U.S. consumers.

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