Trump Announces 25% Tariffs on Imported Cars and Car Parts
The measure, which is intended to bring car factories to the United States, could significantly raise prices for consumers.
It Is Happening Every Day, Every Where
The measure, which is intended to bring car factories to the United States, could significantly raise prices for consumers.
Carmakers’ declines extended in after-hours trading on the news of 25% tariffs on imported vehicles. The drop reflected concerns about inflation.
The levies could hurt European automakers when the industry is already struggling, especially in Germany, Europe’s biggest economy.
The drop reflected market volatility fueled by President Trump’s whiplash on trade and concern that sweeping tariffs could reignite inflation and slow the economy.
The president is expected to announce tariffs on foreign cars on Wednesday, a measure that could bring car factories to the United States but raise prices for consumers.
The president plans to wield tariffs like financial sanctions, ordering that countries that buy Venezuelan oil have tariffs put on their exports to the United States.
Hyundai already makes cars in the United States, in Georgia and Alabama.
The president threatened to wield tariffs like financial sanctions, saying that countries that buy Venezuelan oil would see tariffs put on their exports to the United States.
Makers of a vast array of American products are weighing the risks, and potential payoffs, of the sweeping tariffs the president has promised on April 2.
The first months of President Trump’s second term have been characterized by a flurry of activity. The New York Times talked with several voters about their reactions to some of the latest measures.