Collectors Feel Relief as Classic Cars Evade Trump’s Auto Tariffs
A last-minute carve-out has salvaged the vintage car business, and shippers’ nerves.
Cars such as this vintage Volkswagen Beetle will be exempt from sweeping new tariffs on automobiles and parts.
Photographer: Axel Heimken/picture alliance/Getty Images
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President Donald Trump’s sweeping tariff plan has rocked global markets, with every single sector in the S&P 500 ending Friday in deep red. But one turgid addendum issued by US Customs and Border Protection just after his April 2 tariff pronouncement provided relief for those in the collectible car business: Vintage cars would be exempt.
Collectors, brokers and logistics specialists alike had feared the worst when Trump’s March 26 executive order saddled vehicles and auto parts with new 25% tariffs, a tax that would be in addition to the current 2.5% rate and didn’t include any exemptions for used and classic cars.