Trump Announces 25% Tariffs on Car Imports
US President Donald Trump has announced a 25% tariff on imported cars and car parts, effective from April 2, potentially escalating the global trade war. The US imported approximately eight million cars last year, worth around $240 billion. Major suppliers include Mexico, South Korea, Japan, Canada, and Germany. The new tariffs could disrupt global car trade and supply chains. The White House exempted parts from Canada and Mexico temporarily. Shares in General Motors and Ford fell. The UK and EU expressed concerns, with Canadian Prime Minister calling it a 'direct attack'.