Trump makes good on auto tariff threat
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The Trump tariffs — aimed at boosting U.S. jobs and tax revenues — will also affect imported auto parts, which were valued last year at $197 billion.
From Public Broadcasting Service (PBS)
Trump said that a 25% tariff will be placed on all foreign-made automobiles imported into the U.S. becoming effective at midnight, April 3.
From Yahoo
That includes substantially higher rates on some of the country’s biggest trading partners, such as China — which now faces a tariff of at least 54% on many goods — the European Union and Vietnam.
From Bloomberg L.P.
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President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.
European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said.
"The UK and US auto industries have a long-standing ... will be the ones affected the most by the planned tariffs among European brands, even though Mercedes-Benz, BMW, and Volkswagen have ...
President Trump took his biggest gamble yet on the economy Wednesday when he pressed forward with sweeping tariffs on imports from nearly every country in the world. But in fulfilling a key
Shares of some of the world's biggest automakers appeared surprisingly resilient on Thursday, even after U.S. President Donald Trump's 25% tariffs on foreign auto imports came into effect. Analysts and economists said the relatively muted response from autos stocks could be partly attributed to an exemption for Canada and Mexico from Trump's highly anticipated "reciprocal" tariffs announcement.
European stocks were set to drop after US President Donald Trump unveiled his plans for new tariffs on US trading partners worldwide, including a rate of 20% for the European Union.Contracts on the Euro Stoxx 50 were down 1.
President Donald Trump and his advisers landed on tariffs of at least 10% on imports, with nearly 60 countries and the EU facing even higher taxes.
One manufacturer told NBC News that she had managed to push the existing 45% duty on her products onto American customers.