DONALD Trump has slapped a whopping 25 per cent tariff on all foreign-built cars in a huge blow to global car manufacturers.
Trump says that car tariffs, which will go into effect on April 2, will lead to a “tremendous growth in the auto industry”.
US President Donald Trump announces tariffs on auto imports in the Oval Office of the White House in Washington, DC[/caption]
The US is one the biggest motor markets for many global car giants – including Japanese automakers Toyota, Honda, Nissan, Mazda and Subaru – who will now be hit hard.
This also includes the UK, which exported £6.4 billion worth of cars to the US in 2018 – accounting for 18.4 of all the UK’s car exports.
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