Trump Signs Executive Order: 25 Percent Tariff on All Imported Cars Not Made in the US
US President Donald Trump has signed an executive order imposing a 25% tariff on imported cars and trucks as part of an effort to boost domestic production. During the signing ceremony at the White House, Trump referred to the move as the “beginning of America’s liberation day.”
He said, “What we are going to do is apply a 25% tariff on all cars not produced in the United States.”
Trump added that the tariff would not apply to vehicles produced in the US and noted that companies were returning to America to avoid paying tariffs.
Trump’s ‘Tariff’ Policy: The additional 25% tariff on products imported from Canada and Mexico was introduced on March 4. Trump later announced that products covered under the United States-Mexico-Canada Agreement (USMCA) would not be subject to the tariff until April 2.
Additional tariffs on the US’s steel and aluminum imports were also implemented on March 12. In retaliation, Canada announced it would apply a 25% tariff on $29.8 billion worth of imports from the US.
The European Union also announced on the same day that it would impose countermeasures worth 26 billion euros against the US. These measures, planned to take effect in two phases on April 1 and April 13, were postponed until mid-April to allow for further negotiations. Finally, Trump declared that starting April 2, a 25% tariff would be imposed on any country purchasing oil or gas from Venezuela.
