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Bloomberg reported staggering potential price increases for vehicles affected by these tariffs. New vehicles could see an increase of up to $33,000 due to the 25% tariffs, particularly as many vehicles imported into the United States are produced in Canada and Mexico. For example, 80% of Mazdas entering the U.S. market come from Mexico, which means the pause in tariffs could help keep prices stable for this brand.
On the other hand, Canadian vehicles could be subject to price increases of around $3,000, exacerbating the existing affordability crisis. Many automakers, such as General Motors and Ford, could substantially see their bottom line impacted, a projected 27% and 15% respectively.