FAMAGUSTA GAZETTE – U.S. President Donald Trump has announced a 25% tariff on all cars not manufactured in the United States, set to take effect the night of April 3.
The White House stated the move aims to boost the American auto industry, with projected revenue of $100 billion.
The announcement caused share prices of American automakers to drop on U.S. stock exchanges Wednesday.
Canadian Prime Minister Mark Carney criticized the tariff as a “direct attack,” while European Commission President Ursula von der Leyen called the decision “deeply regrettable.”