Big news for car lovers and industry watchers! U.S. President Donald Trump announced a major policy shift: a 25% tariff on all cars not made in the United States, set to take effect on April 2. ⏰
During a briefing in the White House Oval Office, Trump revealed that the tariff starts from a 2.5% base and then ramps up to 25%. His plan is to motivate manufacturers to relocate production to the U.S., boost government revenue, and chip away at the national debt.
While the move could spark more domestic production, economists warn that higher tariffs might lead to increased car prices, hitting everyday consumers who are already dealing with pricey vehicles. This decision is stirring up debate across the board: will it drive growth at home or burden the market with new costs?
Stay tuned as this story unfolds and join the conversation about how this bold policy might reshape the auto industry. 🚗💥
Reference(s):
cgtn.com
