The US president announced his plan to add a 25% tariff to all cars imported to the US on Wednesday. Trump stressed that tariffs on all cars not produced in the US will enter into force on April 2, when the US also plans to impose “reciprocal” tariffs of great reach to all its commercial partners.
Key aspects
Automotive tariffs will be 25%.
Automotive tariffs will take effect on April 2, raising from April 3.
Reciprocal tariffs will be for all countries.
Automotive tariffs are permanent.
The three large car manufacturers will transfer the production of pieces to the US.
The administration is forming an agreement on Tiktok.
China will have to play a role.
Possibly a reduction of tariffs in the Tiktok agreement will be granted to China.
Plans to continue attacking the hutis indefinitely.
Imposition of tariffs due to EU abuse.
Elon Musk did not advise on automotive tariffs.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
