In a move that’s shaking up global markets, US President Donald Trump signed an executive order Thursday imposing a 25% tariff on all imported cars and select auto parts. The tariffs, set to kick in April 2, are billed as a bid to boost US revenue—Trump claims they could rake in over $100 billion annually. But critics are calling it a high-stakes gamble that risks sparking a full-blown trade war.
The decision has triggered panic across the automotive industry, which relies on intricate global supply chains. Traditional US allies like Canada and the European Union are firing back, warning of retaliatory measures. “This isn’t just about cars—it’s about trust,” said one EU trade official. Could your next car purchase get pricier? Analysts say consumers might feel the pinch as companies pass costs along.
While Trump doubles down on his ‘America First’ playbook, businesses worldwide are scrambling to adapt. The ripple effects could hit everything from electric vehicle innovation to job markets in auto-dependent regions. Stay tuned—this trade drama is just getting started.
Analysts say consumers might feel the pinch as companies pass costs along.
Trump's Tariff Tensions: 'Liberation Day' or…
