Good morning! It’s Daniel de Visé with your Daily Money, more tariffs edition.
Car prices saw a dramatic upswing in the aftermath of the pandemic, Bailey Schulz reports. Now, experts are warning consumers to prepare for additional price hikes spurred by a new tariff on auto imports.
Starting April 2, President Donald Trump is set to impose a 25% tariff on imported passenger vehicles, light trucks and some auto parts. Here’s what it means for car prices.
Tariffs and TikTok
Meanwhile, President Trump said he would consider lowering tariff rates on China to get Beijing behind a sale of the U.S. operations of TikTok and avert a ban on the popular app.
A TikTok ban in the U.S. is set to go into effect April 5 if its Chinese owner, ByteDance, does not cede control to an American company. Here’s how the deal might work.
Will the IRS notice tax errors in 2025?
In other news: Some taxpayers say they are not particularly worried about making mistakes on their taxes this year, given the widely publicized cuts at the IRS and the broader impression of a federal workforce in disarray.
In an ordinary year, few taxpayers would contemplate reckless disregard for the data on a tax return. Make mistakes, and you risk an audit. This year, however, a new president has brought tumult to the taxing agency.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
