Trump Announces 25% Tariff On All Imported Vehicles

The New York Times reports:

President Trump said he would impose a 25 percent tariffs on cars that are imported into the United States on Wednesday. The tariffs will apply to finished cars and trucks that are shipped into the United States, including American brands whose automobiles are assembled overseas, and could raise prices for consumers significantly. Nearly half of all vehicles sold in the United States are imported.

“This is very exciting,” Mr. Trump said during remarks from the Oval Office. He said he would sign an executive order “that’s going to lead to tremendous growth in the automotive industry.” The move is aimed at pushing companies to set up more factories into the United States, a primary goal for Mr. Trump. But the tariffs could also disrupt supply

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