US automotive manufacturers and consumers are bracing for significant challenges due to the new auto tariffs, according to James Moore, founder and CEO of the Washington Institute for Business, Government and Society. In an interview with CGTN, Moore expressed concern over the “dramatic impact” these tariffs are poised to have on the industry.
“We’re entering a brave new world where it’s hard to predict what will happen next,” Moore said. He highlighted that both automakers and consumers are likely to feel the strain as costs increase and supply chains are disrupted.
The new tariffs, imposed amid escalating trade tensions, could lead to higher prices for vehicles and parts, potentially reducing demand and impacting jobs within the industry. “It’s a challenging time for everyone involved,” Moore added.
Industry experts are closely monitoring the situation, emphasizing the importance of open dialogue and cooperation to mitigate negative effects on the global automotive market.
