US President Donald Trump said Tuesday that auto tariffs will be set at around 25 percent, with a formal announcement expected on April 2.
“I’ll probably tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters.
Last week, Trump said that new tariffs on automobiles could take effect as early as April 2. His comments come ahead of reports from his cabinet members who are scheduled to present options for various import duties as part of his broader effort to restructure global trade, reports Reuters.
Trump reiterated his stance on unfair treatment of U.S. automotive exports, pointing to higher tariffs imposed by foreign markets.
For example, the European Union currently applies a 10% tariff on vehicle imports—four times the 2.5% rate the U.S. charges on passenger cars. However, the U.S. maintains a 25% tariff on imported pickup trucks. […]
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