Trump announced another: 25% tax! Even higher...
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Bloomberg pointed out that if the new tariffs are implemented, it will expand the trade war.
Trump had previously announced that he would impose a 25% tariff on steel and aluminum in March, but his speech on the 18th was his most detailed comment to date, specifying other industries that will be hit by new barriers.
"I might tell you on April 2, but that will be around 25%. "When asked about his auto tariff plan, Trump told the media at his Mar-a-Lago club. When asked about similar taxes on drugs and semiconductor chips, Trump said, "The tax rate will reach 25% or more, and will increase significantly within a year."
Trump said he hopes to give relevant companies "time" before announcing new import taxes. "When they came into the U.S., there were factories here, there were no tariffs, so we wanted to give them a little chance," he said.
Trump also threatens to impose other tariffs.All of this is part of a rebalancing U.S. efforts to rebalance the global trade relations. Trump has long accused other countries of exploiting the United States and viewing import tariffs as a way to bring industry back to the United States and earn more income.
According to reports, Trump said he would impose reciprocal tariffs on each country as early as April, but specific details are still being determined.
He also threatened to impose tariffs on some of the largest U.S. trading partners, such as already 25% tariffs on Canada and Mexico, which were postponed to at least March 4. These measures will be superimposed, meaning producers in certain industries in Mexico and Canada may have to pay up to three tariffs.
Overall, if Trump’s moves are implemented, it will reshape supply chains and trade flows, as well as U.S. prices, Bloomberg said. Tariffs are paid by importers and are often passed on to consumers, although sometimes offset by price cuts abroad.
US Politics reported that Trump's tariffs on imported cars will furtherIntensify tensions between the United States and North America, Europe and major trading partners.
According to reports, in 2024, the United States imported 1 billion worth of automobile products, including 4 billion worth of cars, 2 billion worth of parts, and billion worth of special-purpose vehicles such as trucks and buses.
According to the import value, the most imported automobile products from Mexico are from Mexico, reaching about US billion in 2024; followed by Japan's US billion, South Korea's US billion, Canada's US billion and Germany's US billion. Currently, most cars produced in Mexico and Canada can enter the United States with duty-free duty.
According to AFP, the U.S. government not only regards tariffs as a potential source of income, but also uses tariff policies as a way to stimulate multinational companies to increase production capacity in the United States.
Some analysts believe that multinational automakers may announce plans to build or expand factories in the United States in the next few months. But due to the volatile U.S. policy, manufacturers are facing the dilemma of formulating future production plans.
