MILAN (Reuters) – President Donald Trump’s new tariffs will also apply to Ferrari cars ordered months ago but still not delivered to the United States, a spokesperson for the Italian luxury automaker said on Thursday. “Purchase contracts for Ferraris have clear and standard clauses allowing the company to adjust prices in case trade conditions change […]
Business
U.S. tariffs to also apply to Ferrari cars ordered months ago
Audio By Carbonatix
MILAN (Reuters) – President Donald Trump’s new tariffs will also apply to Ferrari cars ordered months ago but still not delivered to the United States, a spokesperson for the Italian luxury automaker said on Thursday.
“Purchase contracts for Ferraris have clear and standard clauses allowing the company to adjust prices in case trade conditions change before the vehicle’s delivery,” the spokesperson said.
Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the U.S., with a higher 20% rate for the European Union, plus 25% tariffs on all imported cars and light trucks, starting next week.
Anticipating the expected protectionist measure, Ferrari last week said it was increasing prices by a maximum of 10% on some of the models it sells in the U.S., starting from Thursday.
Ferrari manufactures all of its cars at its historic Maranello headquarters in northern Italy. Waiting times for deliveries of new Ferraris are normally no shorter than 12 months.
(Reporting by Giulio Piovaccari; Editing by Alvise Armellini and Jan Harvey)