Volkswagen to introduce 'import fee' on tariff-hit cars, WSJ reports [View all]
Source: WSJ via Yahoo Finance
Volkswagen will introduce an "import fee" on vehicles affected by the 25% tariffs imposed by U.S. President Donald Trump, the Wall Street Journal reported on Wednesday.
The German automaker has temporarily halted rail shipments of vehicles from Mexico and will hold at port cars arriving by ship from Europe, the report said, citing a memo to retailers.
Trump's 25% auto tariffs will cover more than $460 billion worth of imports of vehicles and auto parts imports annually, according to a Reuters analysis of tariff codes included in a federal register notice.
Volkswagen told its dealers that it would give more details by mid-April on pricing strategies for tariff-affected cars, and plans to begin allocating those vehicles to stores by the end of the month, the WSJ report said.
Read more: https://finance.yahoo.com/news/volkswagen-introduce-import-fee-tariff-020723154.html
Trump's minions said Americans don't care about higher prices...but I think this is gonna go over like a lead zeppelin...
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