Summary
Trump warned automakers not to raise prices after announcing a 25% tariff on imported vehicles starting April 3, claiming the tariffs would be “great” and benefit U.S. manufacturing.
Industry leaders, including GM, Ford, and Stellantis CEOs, expressed concerns about inevitable price increases, with experts warning tariffs could add thousands to car costs.
Auto suppliers stated that absorbing tariffs is impossible, and dealers fear affordability challenges for consumers.
While the United Auto Workers union support the move as a job creator, trade groups predict higher prices and fewer manufacturing jobs.
It never has been. US capitalism has always been the kind that actually exists in the wild: corrupt, subsidy-consuming, protected by regulatory capture, and inextricably entangled with the workings of the government.
Libertarians’ ideas of what capitlalism is fail to reflect any historical situation anywhere, since their simplistic models fail to consider second-order effects, non-linearities and human nature. But coupling with other systems is inevitable, and there is no economics that exists independently of politics. Karl Marx got a lot of things wrong, but he knew that key fact.