US President Donald Trump on Wednesday announced the introduction of a 25% tariff on imports of cars and light trucks. The new tariffs, which complement the existing ones, will come into effect on April 2, 2025, and fundraising for them will begin on April 3. About this informs CBS News.
“We are imposing a 25% tariff on all cars not made in the United States”, — Trump said during a speech in the Oval Office.
According to him, this decision can bring the US economy from $600 billion to $1 trillion during the year, will promote the creation of new jobs and help reduce the national debt.
“We’re going to be at a very high level from the beginning, you’re going to have a lot of construction jobs from the beginning, but you’re also going to have a lot of automotive jobs.” he added.
Trump emphasized that the new system of tariffs will be simple: a single rate of 25% will be applied regardless of the value of the car. According to him, this will help reduce taxes, stabilize the economy, and stop the practice of moving production outside the country.
“If the parts are made in America and the car isn’t, those parts won’t be subject to taxes or duties. And we’ll have a very strong policy on that. For the most part, I think it’s going to result in cars being made in one place. Right now the car is made here, shipped to Canada, shipped to Mexico, shipped wherever you can. It’s ridiculous.” he emphasized.
Trump emphasized that over the years, other countries “took away jobs, wealth and resources from the United States,” and promised that the country would now “start to pay that money back.”
President of the European Commission Ursula von der Leyen reacted to his statement.
“I deeply regret the US decision to impose tariffs on European automotive exports. The automotive industry is a driver of innovation, competitiveness and quality jobs thanks to tightly integrated supply chains on both sides of the Atlantic.”, – said Ursula von der Leyen.
She emphasized that tariffs are a form of taxation that harms businesses and even more so consumers in both the US and the EU.
“We will now evaluate this announcement together with the other measures that the US plans in the coming days. The EU will continue to seek agreed solutions while protecting its economic interests.”, she added.
The President of the European Commission also emphasized that the European Union will act together to protect workers, businesses and consumers throughout the EU.
Photo: hromadske.ua
