Allman Analysis: Will Trump's Tariffs Really Drive Prices Of American Cars Up?
ST. LOUIS —
In the days since President Trump announced that he was going to impose 25% tariffs on steel and aluminum imports from countries like China, Brazil, South Korea, etc after treacherous trade deals allowed China especially to dump cheap steel into the market and drag prices down artificially, political pundits and politicians predictably crowed in angst over the move.
Many claim that this will cause prices of lots of things Americans buy with those metals, namely cars, trucks, motorcycles, etc to rise. Not everyone shares in those dire predictions.
Skip Weber, owner of Weber Chevrolet, is part of a family of car dealers going back more than 100 years in the St. Louis area. The Weber family has seen the U.S. economy work firsthand during that time, so their perspective is one to listen to.
Weber says these days, costly regulations and taxes mean that the metal materials used to build Chevrolets like the ones he sells in Granite City are a small part of the vehicle price. If anything, Weber told The Allman Report Thursday night, the price of American cars will be going down because of the rollback of those costly regulations and taxes by the Trump Administration.
WATCH the Video Clip for the Full Interview, ONLY on The Allman Report on ABC 30 St. Louis