US President Donald Trump announces plan to tariff all imported cars 25%
|US President re-announced his plan to add a 25% tariff on all cars imported to the US on Wednesday. Trump highlighted that the tariffs on all cars not produced in the US would take effect on April 2, when the US is also set to impose far-reaching "reciprocal" tariffs on all of its trading partners.
Key highlights
Auto tariffs will be 25%.
Auto tariffs in effect April 2, collecting from April 3.
Reciprocal tariffs will be on all countries.
Auto tariffs are permanent.
Big 3 automakers will move parts production to the US.
Administration is forming a deal on TikTok.
China will have to play a role.
Possible will grant China tariff reduction on TikTok deal.
Plans to continue targeting Houthis indefinitely.
Imposing tariffs due to EU mistreatment.
Elon Musk did not advise on auto tariffs.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.