Donald Trump announces 25% tariffs on foreign made cars, says 'move to protect auto industry'
PTC News Desk: In a significant policy announcement from the Oval Office, President Donald Trump has declared a 25 per cent tariff on all imported vehicles entering the United States, a move he described as "very exciting" for domestic manufacturing.
The tariffs, set to take effect on April 2, will impact nearly half of all vehicles sold in the United States, including American brands assembled overseas. The wide-ranging measure aims to incentivise car manufacturers to establish more production facilities within US borders.
Industry experts warn that the tariffs could have far-reaching consequences. Autos Drive America, a representative group for international car manufacturers operating in the US, expressed serious concerns about the potential fallout.
"The tariffs will make car production more expensive," the group stated, "potentially leading to higher prices for consumers, reduced consumer choices, and potential job market disruptions."
The announcement threatens to escalate trade tensions with key automotive manufacturing nations, including European countries, Japan, and South Korea. These nations export substantial numbers of vehicles to the United States and may view the tariffs as a direct challenge to their automotive industries.
- ANI
