1249 ET - President Trump's 25% levy on autos and parts will spur immediate price increases and wreak havoc on supply chains, Cornell's Art Wheaton says. The director of labor studies at the School of Industrial and Labor Relations estimates the tariff as outlined could raise vehicle prices by as much as $10,000 to $20,000. And if the end goal is to increase parts production and assembly in the U.S. then the tariffs would likely need to be consistent for decades to allowing planning for a shift in supply chains, he suggests. "This was achieved for trucks by the 'chicken tax' on trucks for the last 50 years, allowing GM, Ford and Stellantis outsized market share on pickup truck sales for decades." (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
March 27, 2025 12:49 ET (16:49 GMT)
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