Chicago – Steve Walter’s family has been fixing cars on the North side of Chicago for 70 years.
“I am the fourth generation,” said Walter. “My grandfather worked on the East-War Italian race cars.”
Walter’s mechanics replace the metal more often than the metal, so he is shattered to the effect of President Trump New declared 25% tariff Imported in all vehicles and auto parts The US is ready to be effective on 2 April.
“They are going to increase tariff average repair order,” Walter said.
He also believes That tariff Auto will run the insurance premium.
“They are going up,” they said.
President’s 25% on tariff All steel and aluminum imports Early this month came into effect, but Mr. Trump Gave automakers One month exemption after talking to leaders of Big Three Automkers: Ford, General Motors and Salentis. In the beginning of March, Mr. Trump also established, And then stopped As of April 2, 25% tariffs on imports from Mexico and Canada which have been covered under the 2020 trade agreement.
According to the number of CCC intelligent solutions, the cost of repair for the five -year -old car last year was average between $ 5,073 and $ 6,274, and Walter will hopes to hopes that.
Walter showed CBS News a fender, priced at around $ 200. He says that with tariffs, “Perhaps in six months to a year, we will see, you know, this fender is $ 250.”
Fred Bilh’s discount in Chicago came from countries facing new tariffs in almost all replacement parts on the shelves inside the auto warehouse. He guesses that his warehouse bears “millions of” parts.
The prices of Bilh increased in 2019 after Mr. Trump imposed tariffs in his first term. He said that additional costs pass “to customers, consumer”.
The Insurance Information Institute had estimated an increase of about 7%this year, and it was before the new tariff.
Bob Pasmore, vice president of the American Property Casual Insurance Association, a business group representing insurance companies, says the impact of the tariff will create a “ripple” effect, with a tariff felt in 12 to 18 months today.
“If you are increasing the cost here, finally, it’s going to appear in your premium bill,” said Pasmore. “… it’s very simple.”
Ash-Har Qureshi
