US President re-announced his plan to add a 25% tariff on all cars imported to the US on Wednesday. Trump highlighted that the tariffs on all cars not produced in the US would take effect on April 2, when the US is also set to impose far-reaching "reciprocal" tariffs on all of its trading partners.
Key highlights
Auto tariffs will be 25%.
Auto tariffs in effect April 2, collecting from April 3.
Reciprocal tariffs will be on all countries.
Auto tariffs are permanent.
Big 3 automakers will move parts production to the US.
Administration is forming a deal on TikTok.
China will have to play a role.
Possible will grant China tariff reduction on TikTok deal.
Plans to continue targeting Houthis indefinitely.
Imposing tariffs due to EU mistreatment.
Elon Musk did not advise on auto tariffs.
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