Trump Announces 25% Import Tariff on Foreign-Made Cars
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Politics
March 26, 2025 23:00
washington - US President Trump imposes 25% import tax on cars made outside the US, impacting major automakers like Toyota and Volkswagen.
US President's Announcement
President Trump declares 25% import tariffs on cars made outside the US, effective from April 2nd.
Expected Impact
- New tariffs aim to generate $100 billion annually for the US.
- Major automakers like Toyota and Volkswagen likely to be affected.
- Trump believes tariffs will boost the domestic auto sector by encouraging production in the US.
Upcoming Tariffs
On April 2nd, reciprocal tariffs will be announced, targeting countries with import duties on US products, expected to be lower than retaliatory tariffs.