A Buick SUV May Cost an Extra $8,000 After Trump's China Tariffs
A Buick SUV May Cost an Extra $8,000 After Trump's China Tariffs
(Bloomberg) -- Buick buyers may be in for some sticker shock after President Donald Trump’s tariffs on $50 billion in Chinese imports.
The General Motors Co. brand’s Envision sport utility vehicle, which starts at $31,995, is among the handful of autos imported into the U.S. from China. With the Trump administration planning to impose 25 percent duties on products including motor vehicles, each of the SUVs could be subject to levies of about $8,000.
A GM spokesman confirmed that the Envision will likely be affected by the tariffs and didn’t have immediate comment. The automaker sold 41,040 units in 2018, the Envision’s first full year in the U.S. market. By comparison, Chevrolet delivered seven times more Equinox SUVs.
Other cars potentially subject to U.S. tariff include Volvo S60 sedans, which the Chinese-owned Swedish automaker started importing to the U.S. in 2015. A spokeswoman for the company declined to comment.
The U.S. imported only 58,437 passenger vehicles from China last year, a sliver of the 8.27 million shipped to America from the rest of the world, according to the Commerce Department’s International Trade Administration.
--With assistance from Gabrielle Coppola.
To contact the reporter on this story: Sarah Gardner in Southfield at sgardner65@bloomberg.net
To contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, Jamie Butters
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