The US President Donald Trump reported that starting April 3, a 25% tariff will be imposed on all cars imported into the US.
NBC News writes about this.
Trump expects auto companies to move to the United States and build new plants or expand existing ones. He has criticized companies that have opened plants in Canada and Mexico in recent decades, which he says are at the expense of American workers.
“If you build your car in the US, there will be no tariff,” he said.
The White House later clarified that foreign auto parts would also be taxed at a rate of 25%, even if the cars they go into are assembled in the United States.
However, companies importing cars under the United States-Mexico-Canada Free Trade Agreement (USMCA) will receive special treatment until the Commerce Department establishes a procedure for collecting the 25 percent tariff, the White House said.
USMCA-compliant auto parts will also remain duty-free until the Secretary of Commerce, in consultation with U.S. Customs and Border Protection, establishes a procedure for applying tariffs to their non-U.S. content.
The tariffs will begin collecting on April 3, and Trump said they will be “permanent”. He said the US could ultimately receive up to $100 billion in tariff revenue.
The EU has already reacted to the introduction of tariffs. European Commission President Ursula von der Leyen said she "deeply regrets" the US decision.
She added that the EU is currently assessing this statement along with other measures that the US plans to take in the coming days.
"The EU will continue to seek a negotiated solution while protecting its economic interests. As a major trading nation and a strong community of 27 Member States, we will work together to protect our workers, businesses and consumers across the European Union," she added.
- After taking office, Trump imposed 25 percent tariffs on all steel and aluminum imports, raised tariffs on goods from China to 20 percent, and imposed 25 percent tariffs on imports from Canada and Mexico, countries he accused of facilitating drug smuggling into the United States.
- China responded with mirror tariffs on March 4,and Mexico and Canada promised to respond the same day. On March 12, the EU announced tariffs on metals, whiskey, and products from the United States. On the same day, Canada imposed new tariffs on American goods.
- A new round of US tariffs is scheduled for April 2. Trump has repeatedly called this day "Liberation Day" for the US economy. It is currently unknown what tariffs are planned to be imposed.
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