Americans are now faced with warnings that the price of cars will increase by thousands once President Donald Trump issues his new tariffs this week.
Trump is teasing ‘Liberation Day’ on Wednesday, April 2, where he is set to unveil a new round of tariffs that even allies are warning will increase cost burdens on Americans who are already feel the economic squeeze.
Sen. Rand Paul (R-Ky.) reiterated on the Cats Roundtable radio show on Sunday morning that ‘tariffs are bad for any country’ and warned that the cost of vehicles could rise by up to $10,000.
‘I think they’d be bad for America. Economically, I think they’ll hurt us,’ the Kentucky Republican told radio host John Catsimatidis.
He continued: ‘This is something that I just disagree with President Trump on. I’m not for the tariffs, and will continue to speak out.’
Paul said that the stock market is skittish and that tariffs will hurt automobile manufacturers, farmers and the bourbon industry in his home state of Kentucky.
He also said that there are Americans already struggling to buy cars and houses – and they will only be further burdened
‘If he puts the tariffs on now there are some people estimating that a car will cost $5000- $10,000 more because of tariffs,’ Paul noted in his Sunday morning radio interview.
‘We still have some inflation left over from the Biden yours,’ he went on. ‘So, there are people who are struggling to get a car, there are people struggling to buy a house because of interest rates.’
‘I just don’t think it’s a good idea to put tariffs on now because I think it will add to the price of everything,’ Paul concluded.
Trump is expected to unveil sweeping new tariffs on America’s global trading partners on Wednesday, but those tasked with implementing his agenda admit they’re uncertain, according to reports on the mood inside the White House.
Many top administration officials are admitting they’re unsure what the president is actually going to do on so-called Liberation Day.
‘No one knows what the f*** is going on,’ one White House ally close to Trump’s inner circle told Politico.
The aggressive new tariff push is triggering anxieties on a global scale with even Trump’s staunchest allies bracing for a chaotic rollout. Even basic details are still unknown – like which countries will be hit with the tariffs, at what rates and for which goods.
Insiders say that the details are either undecided or constantly shifting.
The president has signaled that more than $1 trillion in trade could be affected.
Reprinted from the Daily Mail
