Donald Trump announced plans to impose sweeping 25% tariffs on cars from overseas on Wednesday, days before the US president is expected to announce wide-ranging levies on other goods from around the world.
“What we’re going to be doing is a 25% tariff for all cars that are not made in the United States,” Trump said in the Oval Office. “We start off with a 2.5% base, which is what we’re at, and go to 25%.”
The announcement drew swift condemnation from the European Union and from the Canadian prime minister, Mark Carney, who called it a “direct attack” on Canadian workers. “We will defend our workers, we will defend our companies, we will defend our country, and we will defend it together,” Carney said.
Another 25% tax on Americans who purchase foreign-made cars. Glad I don’t need a new car now, since I would not buy any shitty Ford / Chevy / GM vehicle made in the USA. My German car is still running great after 10 years of use, has never needed any engine or transmission repair.
Look at the fine print. The US car companies might be the worst hit since the tariffs also apply on various sub-assemblies that mean an additive tariff of 50-100+ on them.