President Trump Announces 25 Per cent Tariff On Imported Vehicles, Effective April 2-OxBig News Network

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.”

The announcement threatens to escalate trade tensions with key automotive manufacturing nations, including European countries, Japan, and South Korea. These nations export substantial numbers of vehicles to the United States and may view the tariffs as a direct challenge to their automotive industries.

Economists predict the tariffs could increase vehicle prices by thousands of dollars, adding further strain to consumers already grappling with persistent inflation. The move represents a dramatic intervention in the automotive market, potentially reshaping global car manufacturing strategies.

(With ANI inputs)