On Monday, the Trump administration announced that it was taking the initial steps to refund $166 billion collected in tariffs over the last year. This comes after the Supreme Court ruled against tariffs imposed via the International Emergency Economic Powers Act (IEEPA). While the automotive industry appears to be eligible for refunds, there’s a substantial amount of confusion surrounding the finer details.The automotive sector is estimated to have increased automotive pricing by as much as 15 percent in response to importation tariffs launched by the federal government in 2025.According to Kelly Blue Book (KBB), the fees raised the price of the average imported car by somewhere between $5,000 and $8,900 (USD) compared to last year. But even domestically manufactured models have seen a $1,600 to $2,000 bump in price due to imports levied on raw materials. All told, the tariffs are assumed to have set the automoti …
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Author: Matt Posky
