THE COLLECTOR CAR PRIVATE OFFICE  -  TRUMP SAVES CLASSIC CARS FROM CRUSHING 25% TARIFFS

So fortunately for us car lovers, and those engaged in the wonderful world of the motor car, President Trump is also a car enthusiast. His personal collection boasts several rare and iconic machines, including a 1956 Rolls-Royce Silver Cloud, and a Lamborghini Diablo VT Roadster, one of just 466 produced.

Last week it was announced that President Trump would introduce a new 25% tariff that would be added to the importation of all cars into the United States.

This sent shock waves and concern around the market, that suddently the US (world’s most dominant car market) would lose its buying power as the import tariff increased 10-fold from 2.5% to 25% across the board, including classics.

However….thankfully last night and into the early hours of this morning, it was announced that classic cars (deemed 25 years or over) would be exempt from the increased tariff. Phew!!

The official line from the Federal Register which was updated last night reads as follows:

Heading 9903.94.04 applies to all entries of passenger vehicles (sedans, sport utility vehicles, crossover utility vehicles, minivans, and cargo vans) and light trucks from all countries classifiable in the headings or subheadings enumerated in subdivision (b) of this note that were manufactured in a year at least 25 years prior to the year of the date of entry.

This of course means any cars built before April 2000 can be taken into the US on the normal 2.5% tariff, which is far more favourable than the UK’s 5%, for cars over 30 years of age and 20% VAT and 10% customs duty (non EU built) for cars less than 30 years old.

So, we see this as a positive move, and more interestingly an opportunity for the industry, classic car lovers, restoration businesses, concours events and the wider collector car industry.

Would you rather drive a super-cool 90s Porsche or Ferrari, Miami Vice style, or pay 25% extra for an unreliable, passionless, boring electric machine the European car industry is currently churning out? I think I know the answer to that one.

Testarossa or 296?

Icons from the 80s and 90s are already enjoying a strong market, but now, it’s time to form an orderly queue.

Well done Mr. T!!!

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