President Trump announces a new tariff for car imports

president Donald Trump On Wednesday, a new tariff announced car imports during a White House press conference.

The president said he would impose a 25 % tariff on all imported cars, up from 2.5 % previously. Refer Car tariff It will be valid on April 2, when his mutual identification plans are also expected.

Trump, who is seen as definitions as a means of achieving tax revenues to finance his tax discounts while stimulating local manufacturing activation, previously suggested that it could impose a 25 % “neighborhood in a neighborhood”.

In his oval remarks, Trump said the definitions “will lead to the construction of many plants, in which case auto factories, and you will see numbers that you did not see in terms of employment. It takes some time, you will have great construction numbers in the beginning, then in the end you will have a lot of people who make a lot of cars.”

Tesla warns against being exposed to revenge definitions in the trade war

Trump car manufacturers’ responses on Tariffs Difficulty in the talks with them.

“If they have factories here, they feel overwhelmed. If they do not have factories here, they will have to go and build them because otherwise, they must pay the tariffs. They are very simple. Most of them have very large factories here,” explained.

The Canada government indicates that it plans to impose it Revenge definitions. Doug Ford at Ontario said in a publication that Trump’s tariff by 25 % “on cars and light trucks will not do anything more than increasing the costs of American families working hard.”

Trump threatens more customs tariffs on Canadian steel, aluminum, electricity and cars

Definitions can increase the cost of cars for consumers by thousands of dollars, according to analyzes conducted by the auto industry groups. High costs can cause car manufacturers Production The Automobile Research Center said that the auto research center may lead to work losses in the industry.

The United States imported $ 474 billion of car products last year, including $ 220 billion passengers. The largest suppliers were Mexico, Japan, South Korea, Canada and Germany, and they are all allies for us.

UAW leader tells Trump’s tariff in Canada and Mexico, as an effort to stop the bleeding of “our jobs

COX Automotive said on Wednesday that if there is no tariff for the automotive industry from Canada and Mexico, the cost of the US -made vehicles will increase by about $ 3,000, while Car prices For vehicles made in Canada or Mexico, it will rise 6000 dollars.

And it expects that by mid -April, there will be a disruption to the production of almost North American vehicles, which leads to about 20,000 vehicles produced daily, or about 30 % of production.

“In the long run, we expect sales to decrease, new prices increase and use, and some models are canceled if these definitions continue, and we have not yet heard details about customs duties in the European Union, Japan and South Korea,” Jonathan Smok said in a Reuters report. “The bottom line, low production, more tight supplies, and prices for the brackets higher or lower, remind us in 2021.”

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The markets fell on Wednesday in anticipation of the tariff declaration, with a decrease of S&P 500 by 1.12 %. The shares also decreased in automobile companies, as Tesla decreased by 5.6 % and General Motors by 3.1 %.

Reuters contributed to this report.