The ongoing tariff war could cause already elevated car insurance rates to soar even higher The 25% tariffs on cars and auto parts from Canada and Mexico will increase premiums by an average of 8% ...

Car prices are among the most prominent items likely to become more expensive, so Trump is also proposing that taxpayers be able to deduct interest payments on auto loans for domestic cars.

The average new car price is just under $50,000, meaning these tariffs could push prices even higher, impacting nearly ...