US EditionTrump announces 25% tariffs on all cars ‘not made in the United States’
- On Wednesday, US President Donald Trump announced a 25% tariff on imported cars and light trucks, effective April 2, and on auto parts from May 3.
- The White House stated that these tariffs are intended to strengthen domestic manufacturing, though the move has been met with widespread criticism.
- Countries like Canada, Japan, and South Korea, along with the European Union, are reacting to the tariffs, which are expected to impact supply chains involving the United States, Canada, and Mexico.
- Ursula von der Leyen, European Commission President, slammed the move and cautioned that it could augment trade tensions, while Trump stated, "We'll effectively be charging a 25 per cent tariff" and "This will continue to spur growth."
- World powers, including Canadian Prime Minister Mark Carney and Japanese Prime Minister Shigeru Ishiba, blasted the tariffs and vowed retaliation, with concerns raised about the potential impact on consumer confidence and the possibility of increased car prices.
683 Articles
683 Articles
'Economic lunacy day': Financial Times columnist buries Trump's newest trade salvo
Financial Times columnist Gillian Tett on Thursday shredded President Donald Trump's latest salvo in his international trade wars that have sent stock prices sinking downward in recent weeks.Appearing on MSNBC's "Morning Joe," Tett said that Trump's new 25 percent tariffs on foreign cars were once again setting off damaging economic uncertainty."Frankly, I think most economists would regard what Donald Trump calls the 'Economic Liberation Day' a…
The Herald Palladium
Autos lead market losses after Trump tariffs
Shares in automakers led stock market losses Thursday after US President Donald Trump announced painful tariffs on imported vehicles and parts as he presses hardball trade policies many fear will spark a recession.
Trump's Zoll-Hammer: "It's especially a trade war declaration to Germany"
US President Trump has announced tariffs of 25 percent on all car imports. They should apply from 2 April. Trump is already threatening even higher tariffs in the event of European countermeasures. US correspondent Michael Wüllenweber reports.
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