TRUMP IMPOSES 25 PERCENT TARIFF ON AUTO IMPORTS – Trump has already imposed 20% duties on all imports from China and 25% duties on steel and aluminum
U.S. President Donald Trump said he is imposing reciprocal tariffs to match duties put on U.S. goods by other countries.
At an event in the White House Rose Garden Trump announced a 25% tariff on all foreign made automobiles which will be taken into effect by midnight.
The sweeping duties would erect new barriers around the world’s largest consumer economy, reversing decades of trade liberalization that have shaped the global order. Trading partners are expected to respond with countermeasures of their own that could lead to dramatically higher prices for everything from bicycles to wine.
Trump has already imposed 20% duties on all imports from China and 25% duties on steel and aluminum and extended them to nearly $150 billion worth of downstream products.
His advisers say the tariffs will return strategically vital manufacturing capabilities to the United States.
