We're talking with people in the auto industry as they prepare for tariffs to be imposed on what President Donald Trump is calling 'Liberation Day'.
The 25% auto tariffs, set to take effect on April 3, will apply to imported passenger vehicles, including cars, SUVs, minivans, cargo vans and light trucks, according to a White House statement released after Trump's Oval Office remarks on Wednesday.
Japan’s Prime Minister Shigeru Ishiba says his government is making last ditch efforts to get U.S. President Donald Trump to exclude his country from an increase in auto tariffs due to take effect this week.
2don MSN
President Donald Trump’s 25% tariffs on imported cars and car parts will cause “pure chaos” in the auto industry and hike car prices by up to $10,000 or $15,000, wrote analysts at Wedbush Securities.
TOKYO (Reuters) - Japanese Prime Minister Shigeru Ishiba said on Tuesday Tokyo will continue to push strongly for the United States to exempt Japan from auto tariffs. In a news conference, Ishiba also said the government will take measures, as needed, to cushion the blow to the economy and jobs from higher U.S. tariffs.
The president of the united Auto Workers union is praising President Trump's tariffs on foreign-made vehicles, but says it can't stop there.
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South Africa, whose exports of vehicles and parts into the United States is estimated at over $2 billion, could take a severe hit from a planned tariff of 25% on automobile imports unveiled last week by U.S. President Donald Trump.