Donald Trumps steel, aluminum tariffs could increase auto insurance rates: Experts [Video]

As U.S. President Donald Trump’s steel and aluminum tariffs begin, Canadian businesses are trying to prepare as best they can.

“We’ll definitely notice the increase … our parts prices will go up,” said Kevin Fujita, a co-owner at CSN Kustom in Coaldale.

He says his southern Alberta business will be impacted and unfortunately customers will have to absorb any increases.

“In our industry, we’re lucky enough to have insurance work where most of that cost, unfortunately, gets passed onto the consumer and the insurance company which will ultimately end up coming out of the customer’s pocket.”

This was echoed by Aaron Sutherland, vice-president at the Insurance Bureau of Canada, indicating the 25 per cent steel and aluminum tariffs declared by Trump on Monday could have a widespread effect.

“That steel, that aluminum, it’s what’s going into the auto parts and vehicles that the U.S. manufactures and we ship back to this country. Of course, as the price of those …