WASHINGTON, March 26 (Reuters) - U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.
“What we’re going to be doing is a 25% tariff for all cars that are not made in the United States,” Trump said at an event in the Oval Office.
Lots of ‘American’ cars are actually assembled in Canada or Mexico with foreign parts. BMW, Honda and Toyota all have big assembly plants in the US. This is going to get weird.