Trump steel, aluminum tariffs likely to drive up car costs, industry leaders say

President Donald Trump's tariffs on steel imports this week are likely to wreak havoc on American auto manufacturing, industry leaders say. The moves align with the Trump administration’s aggressive global trade actions and hopes to strengthen U.S. industry. On March 12, all steel imports will be taxed at a minimum of 25%, the result of two orders the president signed Monday that also include a 25% tariff on aluminum. That could have a serious impact on domestic automakers including Ford, GM and Stellantis — and make these companies’ vehicles more expensive for the nation’s car buyers.