President Trump’s address to Congress on Tuesday highlighted new tariffs that he believes will create jobs and encourage companies to move manufacturing back to the United States. However, International Business Professor Mohammed Elahee from Quinnipiac University warns that these tariffs will increase prices for many goods, including automobiles. He predicts that prices for sedans, compact cars, trucks, SUVs, and vans could increase by $2,000 to $4,000. Elahee also warns of potential shortages due to American-made products relying on imported components like computer chips.
Quinnipiac University students are offering assistance with tax filing, providing a valuable service during a time of economic uncertainty. The professor emphasizes that many products, such as iPhones, computers, and cars, rely on components from around the world, which could further complicate the impact of the new tariffs. For more information, watch the full video for insights from Professor Elahee at Quinnipiac University.
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