What the latest auto tariffs mean for new car buyers

President Donald Trump announced a new executive order granting partial tariff rebates to automakers assembling cars in the U.S., easing a previously announced 25% tariff on imported cars and parts. The rebate allows U.S. manufacturers to be reimbursed up to 3.75% of a domestically produced car's value, reducing to 2.5% after a year. Industry experts, including John McElroy, predict significant impacts on car sales and potential layoffs, as costs could rise by thousands per vehicle. Automakers like Ford and General Motors are bracing for changes, with GM estimating tariffs could cost them up to $5 billion this year.