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The initial 90-day pause on Donald Trump's heaviest tariffs is set to lift in a week's time, which could be very bad news for prices on everything from tech to groceries.
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As the initial 90-day pause on Donald Trump's heaviest tariffs looks set to end, the prospect of price hikes now looms as large as ever.
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It's earnings season, and automakers are warning investors about the impact tariffs will have on vehicle pricing. As first reported by Reuters, the cost of Ford's Mustang Mach-E, Ford's electric SUV, could rise by as much as $2,000 on some models.
Ford manufactures the Mach-E as well as other non-electric models in Mexico, which are now tariffed when sold in the United States. Aside from the Mach-E, Ford estimates that it will take a $1.5 billion hit from current tariff policy.
The Trump administration has long insisted that tariffs are not paid for by the American consumer, and while the company made clear it was absorbing some of the increased cost, it could not absorb all of it.A Ford spokesperson told Reuters that the price increase is partly due to typical mid-year repricing "combined with some tariffs we are facing. We have not passed on the full cost of tariffs to our customers."
Despite the administration's partial acquiescence to automakers last week in softening the blow on auto tariffs, EV makers Rivian and Lucid have said higher costs are coming. Rivian's CEO shared that he expects vehicle pricing to rise by "a couple of thousand dollars," while Lucid's interi
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