Donald Trump to impose 25% tariff

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The United States will impose tariffs of 25 percent for imports of cars from foreign made, Donald Trump said on Wednesday when he announced a significant escalation with the allies in his trade war.

The tariffs will come into force on April 2, the self-imposed period of the US President for the unveiling of numerous reciprocal Tariff Against US trade partner.

“This is the beginning of the liberation day in America,” said Trump on Wednesday evening in the Oval Office. “If you build your car in the United States, there will be no tariff,” he added.

When asked whether there could be something to remove the tariffs, Trump replied: “This is permanent, 100 percent.”

At the beginning of this month, the President offered the auto industry an exhaustion when he temporarily excluded new tariffs of all goods that corresponded to the conditions of the 2020 trade agreement in the USA with Canada and Mexico.

On Wednesday, Trump did not outline such exceptions from the car tariffs. “For the most part, I think it will lead to cars being produced in one place,” he said.

Car manufacturer have campaigned strongly against the tariffs and argued that they would improve their supply chains and increase the costs for cars for American drivers.

General Motors shares ran 4 percent in retail with after-hour trading on Wednesday, while the US shares of Chrysler Parent Stellantis fell around a similar margin. Ford slipped by about 2 percent.

Trump’s announcement was the latest in a series of tariffs that he has triggered since his return to office in January, including an additional delivery of 20 percent for all goods from China and 25 percent for all imports of steel and aluminum to the USA.

At the beginning of this week Trump said the United States would Apply tariffs of 25 percent All goods that were imported from countries in the USA where Venezuelan oil and gas were bought. These tariffs would probably meet China, India, Spain and Italy.

“Basically, I consider it reducing taxes and also reduce debts,” said Trump of his tariffs. “And within a rather short period of time we will have a balance that will be excellent.”