Trump Announces 25% Tariff on Imported Cars Set to Take Effect Next Week

President Donald Trump confirmed on Wednesday that a 25% import tax on vehicles not built in the U.S. would be implemented next week, following through on weeks of threats regarding new tariffs. The move is aimed at reducing the U.S. trade deficit and encouraging domestic car manufacturing.

The new tariffs are expected to impact foreign automakers and suppliers, potentially raising car prices for U.S. consumers and disrupting global supply chains. Critics warn that the tariffs could provoke retaliatory measures from key trading partners, escalating trade tensions.

The auto industry, along with global markets, is bracing for the effects of the tariff, with concerns about its long-term impact on international trade and manufacturing costs