President Donald Trump announced his latest round of tariffs on Wednesday, telling reporters at a press conference that the US would levy duties of 25 percent on all imports of fully-assembled vehicles.
The carve out for imports of auto parts is meant to be a lifeline for the US auto industry. Wednesday’s announcement of duties on assembled vehicles was originally set to be part of the president’s planned April 2 “liberation day” tariff announcement, accompanied by similar tariffs on parts.
“What we’re gonna be doing is a 25 percent tariffs on all cars that are not made in the United States,” declared the president in the Oval Office. “This will continue to spur growth.”
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