Ferrari increases prices in the US in response to tariffs set by Trump

Ferrari, one of the world's most recognized car manufacturers, announced that it will raise prices on many of its models in the United States in response to the tariffs set by Donald Trump against imported vehicles.

The car brand, based in Maranello, Italy, confirmed the update of its trade policy in the United States. Ferrari reported that all its models, with the exception of three, will have a price increase of 10% at most as of April 2, the date that Trump's tariff mandate is set to kick off.

"The commercial terms will remain unchanged for orders of all models imported before April 2, 2025 and for orders of the following three families - Ferrari 296, SF90 and Roma - regardless the import date. For the current remaining models, the new import conditions will be partially reflected on pricing, up to a maximum 10 percent increase, in coordination with our dealer network," Ferrari detailed in a statement.

On March 26, Trump signed an executive order to set a 25% tariff on all imported cars with the aim of "stimulating domestic production."

Italian wine exports blocked

Italy's main agricultural union, Coldiretti, also assured that wine exports to the United States have been blocked for fear of eventual tariffs, which could cost producers six million euros (roughly $6.5 million) per day, AFP reported.

On March 13, Trump threatened to impose tariffs of 200% on all alcohol from the European Union (E.U.), including wine, if it does not reverse its "nasty" 50% tariff on American whiskey.