DONALD Trump has slapped a whopping 25 per cent tariff on all foreign-built cars in a huge blow to global car manufacturers.
Trump says that car tariffs, which will go into effect on April 2, will lead to a “tremendous growth in the auto industry”.
The United States stands as one of the largest motor markets for numerous global car manufacturers, such as Toyota, Honda, Nissan, Mazda, and Subaru from Japan, all of which will now face significant hurdles.
This also includes the UK, which exported £6.4 billion worth of cars to the US in 2023 – accounting for 18.4 of all the UK’s car exports.
Making the announcement, Trunpo said from inside the Oval Office: “This is the beginning of Liberation Day in America.
“If you build your car in the United States, there will be no tariff.
Asked if there was anything carmakers could do to have the tariffs removed, Trump replied: “This is permanent, 100 per cent.”
Trump has extended his punishing trade war to now impact the entire world as fears grow for key UK industries.
The US president announced 25 per cent tariffs on all steel and aluminium imports coming into the US – with the EU already hitting back hard.
Trump’s tariffs are now set to have a huge impact on the UK steel industry.
They have already warned the decision to impose a transatlantic trade war “couldn’t come at a worse time”.
The UK Business Secretary has described the decision to impose global tariffs on steel and aluminium as “disappointing”.
Jonathan Reynolds added that “all options” are on the table to respond in the national interest.
