US To Impose 25 Pct Tariff On Imported Cars - Trump

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, March 26 (KUNA) -- US President Donald Trump signed an executive order imposing 25 percent tariff on imports of automobiles and certain auto parts as from April 2 to end "unfair trade practices and protect US national security."
"What we're going to be doing is a 25 percent tariff on all cars that are not made in the United States," he said reporters after signing the order.
"Business is coming back to the United States so that they don't have to pay tariffs --. This will continue to spur growth like you haven't seen before.
"If parts are made in America and a car isn't, those parts are not going to be taxed or tariffed and we will have very strong policing --. It's one number and that number is going to be used to reduce debt greatly in the United States and build things," he noted.
Meanwhile, the White House said, in a post on its X account, "Our trade deficit in automobile parts hit a staggering USD 93.5 BILLION in 2024."
"The US auto industry employs approximately ONE MILLION Americans.
"Auto parts manufacturing jobs total approximately 553,300. But we've lost 286,000 auto parts manufacturing jobs since 2000 - down 34 percent.
"In 2023, US-owned automakers accounted for just 16 percent of global R and D spending, while the EU dominated with 53 percent.
"These tariffs will fuel American ingenuity and bring our edge back," the White House added. (end)
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