US President announces 25% tax on imported cars

Imported cars at Long Beach port, California, USA. (Photo: Getty Images/VNA)

Auto industry experts predict the move will push up car prices and stifle production in the industry.

"What we're going to do is we're going to impose a 25 percent tariff on all cars that are not made in the United States," President Trump said at an Oval Office event. He added that if the cars were made in the United States , they wouldn't be subject to the tariff. The tariff will take effect on April 2.

The United States imported $474 billion worth of vehicles last year, including $220 billion worth of passenger vehicles. Mexico, Japan, South Korea, Canada and Germany, Washington’s close allies, are the largest suppliers to the U.S. auto market.

Source: https://nhandan.vn/tong-thong-my-tuyen-bo-ap-thue-25-doi-voi-o-to-nhap-khau-post867944.html