re: #236 KGxvi

Middle-class and wealthy people are more likely to buy new cars. MSRP on a fairly basic Ford F-150 is about $33,000. A 20% tariff would mean the price jumps to $39,600. That’s going to kill a lot of sales on big ticket items.

The poor are more likely to spend a higher percentage of their available funds on FOOD.
A purchase of which that generally can not be cancelled or postponed to a later date.

If middle-class and wealthy do not purchase new cars less used vehicles enter the resale market, reducing number of used vehicles entering secondary market, increasing demand, driving up costs of personal transportation options for the less affluent