No automaker will be truly immune from the effects of the tariffs, but some will be in a particularly bad spot.
The Trump administration is planning to impose a round of fresh tariffs on April 2, a day President Trump has dubbed "Liberation Day." The announcement is viewed by economists as the culmination of his "America First Trade Policy,
European automakers, already struggling with tepid economic growth at home and rising competition from China, on Thursday decried the U.S. import tax on cars as a heavy burden that will punish
The auto tariffs will be felt sharply in Europe, for whom the U.S. is the biggest export market for an industry that supports nearly 14 million jobs.
March 26, 2025: President Trump announces a 25% tariff on almost all imported cars to be effective April 3, 2025, and on key auto parts planned for May 3. March 12, 2025: The U.S. announces Increased tariffs on steel and aluminum to 25% globally. March 4, 2025: Trump increases tariffs on Chinese imports to 20%.
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Cryptopolitan on MSNTrump’s tariffs threaten to slash over $700 billion from global GDPTrump's sweeping reciprocal tariffs, set to take effect Wednesday, could cut $763 billion from global GDP by 2027, with the US economy facing the steepest losses.
Trump has repeatedly called April 2 “Liberation Day,” with promises to roll out a set of tariffs, or taxes on imports from other countries, that he says will free the U.S. from a reliance on foreign goods. To do this, Trump has said he’ll impose “reciprocal” tariffs to match the duties that other countries charge on U.S. products.
An American Compass analysis attributes the quotas to an 8% increase in the cost of vehicles, more than 100,000 new U.S. jobs, eight new auto assembly plants, 300 new production facilities and more than $25 billon in foreign investment.
Sharp increases in goods from China, Canada and Mexico helped drive U.S. imports to a new monthly record as people stocked up before tariffs hit.
European automakers, already struggling with tepid economic growth at home and looming Chinese competition, on Thursday decried the U.S. import tax on cars as a new, heavy burden that would hurt compa
U.S. President Donald Trump's announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global carmakers warned of immediate price hikes and dealers raised fears of job losses in big auto-exporting countries,