U.S. President Donald Trump has confirmed that starting April 3, he will impose a 25% tariff on car imports in an effort to support domestic manufacturing and generate additional revenue for the budget, according to AP.
Trump stated that the new tariffs would bring approximately $100 billion in annual revenue and serve as a boost for the American automotive industry. He has repeatedly expressed his intention to implement such measures, making them a key part of his economic policy.
According to a White House official who spoke on condition of anonymity, the tariffs will apply to both fully assembled vehicles and individual components.
Experts warn that the introduction of tariffs could lead to higher car prices, lower new car sales, and increased inflation. Additionally, restructuring the existing model, in which automakers operate factories in various countries, would take considerable time.
The European Commission has already stated that the EU will defend its interests in response to the U.S. trade restrictions.
