Starting Thursday, a 25% tariff on imported cars, auto parts and light trucks will be put into effect. Prices for some cars are expected to increase by $3,000 for an American-made car and possibly $10,000 for an imported one.
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While there are many excuses as to why individuals may not bother to look at international news such as being too busy, not finding it relevant or that is harder to find, the bottom line is that this is a trend that needs to change. It’s OK for not every news story to include the U.S. What’s more important is looking at news through a variety of perspectives — even if it means looking at perspectives outside of one’s own country.
Student businesses like Koroluk’s aren’t bringing in millions upon millions of dollars daily. Therefore, he doesn’t have the financial capital to absorb any damages tariffs and inflation can unleash at a time. This means nearly everything from the production to even the shipping itself has to adjust until the economy settles down.
The belief is that these tariffs will help bring Canada and Mexico to the negotiating table, so President Trump can begin the process of bringing back more manufacturing jobs to the U.S.. However, this process might not be as cut and dry as it looks on paper.