President Donald Trump announced new 25% tariffs on the auto industry Wednesday evening.
“What we’re going to be doing is a 25% tariff on all cars that are not made in the United States,” Trump declared from the Oval Office, noting that cars produced by foreign companies in the U.S. would not be subject to the new barrier taxes.
Trump said the auto tariffs would go into effect on April 2 and that the federal government would start collecting fees on April 3.
The president specifically commended a number of foreign automakers, including Honda, for announcing that they would be expanding their American production facilities in the face of his tariff agenda.
“In all cases, they wouldn’t have done it without what we’re doing,” Trump declared. “Others will come into our country and build, and they’re already looking for sites.”
Trump has implemented a…
