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Trump Enacts 25% Tariff on Imported Cars Amid Escalating Trade War

President Trump's announcement of a 25% tariff on imported cars raises concerns about consumer prices and American jobs, as Canadian PM Carney warns of declining consumer confidence.

Slide 21
Axios
Axios

Axios

Overview

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President Trump has officially imposed a 25% tariff on all imported vehicles, set to take effect on April 2. This escalation in the trade war has led to tumbling stock prices, particularly for major automakers like Ford and General Motors. The Canadian Prime Minister, Mark Carney, condemned the tariffs as a 'direct attack' on Canadian workers, stating that the trade war is negatively affecting American consumer confidence, which recently hit a multi-year low. Carney has announced a CA$2 billion strategic fund to support affected workers and called for a defensive stance against these tariffs.

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Daily Open: Tariff me, tariff me not
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Trump announces 25% tariffs on foreign-made cars
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How Can New Auto Tariffs Impact the Economy?
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Trump announces 25% tariffs on car imports to US
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Trump Announces 25% Tariff on Cars Not Made in the US
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Trump to announce new auto tariffs Wednesday
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