NEW ORLEANS (WVUE) – President Trump’s 25% tariff on foreign cars is set to begin on April 3.
The White House says that in 2024, Americans bought 16 million vehicles, half of which were imports.
“They want to see it, they want to smell it and they want to drive that baby home. We can’t do anything to hurt the pricing,” said Ronnie Lamarque, owner of the Lamarque Motor Company.
Over the last 55 years, Lamarque has experienced the ups and downs of the car business.
“I just want a level playing field,” Lamarque said. “If it’s a level playing field, let’s get it on.”
Lamarque owns both domestic and foreign brand dealerships. He does not expect to see major price increases with President Trump’s tariffs.
“The factory is going to come out with rebates to offset any kind of tariffs,” Lamarque said. “So, your pocketbook, what you bring home, you can afford your lifestyle for you, your family and mine. That’s the key.”
Lamarque also owns a Mercedes Benz dealership in Mobile. He says more automakers, like Mercedes, are building plants in the United States, but it takes time to construct and hire workers.
This week, President Trump announced that Hyundai would build a nearly six-billion-dollar steel plant in Ascension Parish.
“As a result, they will not have to pay any tariffs. You know, there are no tariffs if you make your product in America,” Trump said.
Some economists believe buyers will face sticker shock at the dealership.
“By this time next year, the typical car price will be somewhere between $5000 and $10,000 more,” said Mark Zandi, chief economist of Moody’s Analytics.
The Louisiana Auto Dealers Association said, “We are actively monitoring the Administration’s evolving tariff policy in close coordination with the National Automobile Dealers Association. As this situation develops, we are engaging with federal officials to advocate for policies that protect jobs, support our local dealerships, and maintain a healthy, competitive automotive marketplace—both here in Louisiana and across the nation.”
“Buy now and see what happens later, that’s smart,” Lamarque said. “We have inventory; they’re not impacted by so-called tariffs. Plus, they get the best deal and best rebates.”
Tariffs on imported car parts like engines and transmissions could begin no later than May 3.
President Trump maintains tariffs will protect America’s auto industry.
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