In a major policy statement from the Oval Office, President Donald Trump on Wednesday announced a 25 per cent tariff on all imported vehicles, calling it “very exciting” for domestic manufacturing. The tariffs are all set to take effect on April 2.
The tariffs are going to impact nearly half of all vehicles sold in the United States, including American brands assembled overseas. The comprehensive measure is designed to encourage car manufacturers to build more production facilities within the United States.
Industry experts caution that the tariffs could have significant consequences. Autos Driver America, a group representing international car manufacturing in the US, voiced serious concerns about the potential impact.
“The tariffs will make car production more expensive,” the group said, adding, “potentially leading to higher prices for consumers, reduced consumer choices, and potential job market disruptions.”
(With ANI inputs)
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