President Trump announced on Wednesday that he would impose 25 percent tariffs on all cars imported into the United States, a sweeping measure aimed at revitalizing domestic manufacturing and reducing the nation’s trade imbalance.
The tariffs, set to take effect on April 2, will apply to finished cars and trucks shipped into the country, including American brands manufactured overseas.
“What we’re going to be doing is a 25 percent tariff on all cars not made in the U.S.,” Trump said during remarks from the Oval Office.
The policy appears to apply globally, without exemptions for nations with free trade agreements with the United States, such as Canada and Mexico. Trump’s administration has hinted that some countries may receive leniency but provided no clear guidance on how such exemptions would work.
The move is part of Trump’s broader push to encourage companies to establish manufacturing operations in the United States. “Anybody who has plants in the United States, it’s going to be good for,” Trump said, calling the initiative “very exciting.”
