Summary
Germany vows not to “give in” as Donald Trump imposes a 25% tariff on imported cars, effective April 2, with parts tariffs starting in May.
France, Canada, China, and Japan criticize the move, warning of economic harm and trade disruptions. European leaders call for retaliatory tariffs to maintain a balanced trade field.
Automakers’ shares, including General Motors and Ford, dropped significantly.
Trump argues tariffs will boost US manufacturing, while critics claim they will increase consumer prices and hurt global economic ties.
It’s going to hit GM and Ford who are set up to build cars in Canada and USA. The cars they make in US rely on a global supply chain. It’s going to fuck every carmaker in the US market. Hyundais and Chevys are going to go up in price 30% overnight with the metal tariffs on top of all that.