Dave Vang, finance professor at the University of St. Thomas Opus College of Business, recently spoke with KSTP-TV regarding auto tariffs. The new taxes on foreign imported goods imposed by the Trump administration has left Americans rushing to buy vehicles before costs increase.
From the story:
Auto sales have been spiking across the nation and in Minnesota.
“Now would be a good time to buy cars on the lot,” said Dave Vang, a finance expert from the University of St. Thomas.
Vang said the tariffs may help U.S. auto producers, but come mid-summer, consumers will likely pay more for foreign cars once the tariff-free inventory dwindles down.
He estimates consumers could pay anywhere from $1,500 to $3,000 more.
