After the 25% tariffs on aluminum and steel, cars are likely to be the next target in the Trump administration's tariff strategy.
President Trump signs an executive order alongside Transportation Secretary Sean Duffy and Interior Secretary Doug Burgum in the Oval Office on February 14 - Photo: REUTERS
According to Reuters, on February 14, President Donald Trump shared that he will continue to maintain the tax strategy to reshape global trade. After aluminum and steel, cars will be the next target in his tax strategy.
Responding to a question about when the auto tariffs would be imposed during the executive order signing session in the Oval Office on February 14, Mr. Trump replied: "Probably around April 2 at the earliest."
“Comprehensive trade policies are imperative to achieving our vision of strengthening the American auto industry,” Trump added.
Since taking office, President Trump has imposed a 10% tariff on all imports from China, on top of existing tariffs. He also announced, then delayed for a month, a 25% tariff on goods from Mexico and non-energy imports from Canada.
Mr. Trump then went on to impose a 25% tariff on all imported steel and aluminum and directed his economic team to draw up plans to impose tariffs on every country that taxes US imports.
President Trump asserted that these orders will level the playing field for American goods abroad and restore the American manufacturing base.
"We welcome President Trump's idea of reviewing all vehicle imports into the United States, which would be a major step forward in trade," Ford Motor Co. CEO Jim Farley told X.
However, this has caused panic among businesses and longtime US allies, raising concerns among consumers and economists about a return to rising inflation.
Earlier in 2018, Mr. Trump first proposed a 25% tariff on imported cars, citing Section 232 of the Trade Expansion Act, which allows the president to impose trade restrictions for national security reasons.
The proposal was shelved after strong opposition from allies, but has now resurfaced, signaling Washington’s tightening grip on global supply chains across a range of sectors.
Source: https://tuoitre.vn/sau-nhom-va-thep-ong-trump-se-tang-thue-o-to-20250215115741967.htm
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