Automakers to pay $3 billion in new U.S. tariffs under USMCA, according to budget estimate

U.S. President Donald Trump’s rewrite of North American trade rules will cost automakers nearly $3 billion more in tariffs over the next decade for cars and parts that will not meet higher regional content requirements over the next decade, the Congressional Budget Office (CBO) estimates. The projection was contained in the non-partisan budget referee agency’s cost estimate of implementing legislation for the new U.S.-Mexico-Canada Agreement, which will be considered by the U.S. House of Representatives.