When the cost of repairing and replacing vehicles increases, these costs trickle down to insurance companies, who pass them on to policyholders. President-elect Trump has indicated that this tariff could be placed on all goods entering the U.S. from Mexico and Canada, impacting auto insurance costs in a few ways:

Tire makers, dealers, importers and consumers are waiting to see if incoming President Donald J. Trump makes good on threats to increase tariffs on imported goods.

Trump’s victory was celebrated but not by nations like China. Reason being? His tariff history and current tariff promises. Tariffs are a tool that President Trump and his team are well-acquainted with.