403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Trump Imposes 25 percent Tariffs on Imported Cars
(MENAFN) On Wednesday, President Donald Trump revealed fresh tariffs of 25 percent on imported automobiles, a decision anticipated to intensify global trade tensions and lead to higher prices for consumers.
Based on the White House’s Fact Sheet, this 25 percent tariff will be levied on imported passenger vehicles (including sedans, SUVs, crossovers, minivans, and cargo vans), light trucks, as well as key automotive components like engines, transmissions, powertrain parts, and electrical systems.
The document also highlighted that additional components may be subjected to tariffs if needed.
These tariffs were announced prior to the reciprocal tariffs, which were set to be disclosed on April 2, referred to by Trump as "Liberation Day."
Trump emphasized that the tariffs will not impact domestically produced vehicles.
White House Staff Secretary Will Scharf further noted that these tariffs could generate over USD100 billion in annual revenue for the United States.
The White House website clarified that firms importing vehicles into the United States will have the chance to certify that the components in their vehicles meet the standards of the US-Mexico-Canada Agreement (USMCA), with the tariff applying solely to “non-US content” in the vehicles.
Based on the White House’s Fact Sheet, this 25 percent tariff will be levied on imported passenger vehicles (including sedans, SUVs, crossovers, minivans, and cargo vans), light trucks, as well as key automotive components like engines, transmissions, powertrain parts, and electrical systems.
The document also highlighted that additional components may be subjected to tariffs if needed.
These tariffs were announced prior to the reciprocal tariffs, which were set to be disclosed on April 2, referred to by Trump as "Liberation Day."
Trump emphasized that the tariffs will not impact domestically produced vehicles.
White House Staff Secretary Will Scharf further noted that these tariffs could generate over USD100 billion in annual revenue for the United States.
The White House website clarified that firms importing vehicles into the United States will have the chance to certify that the components in their vehicles meet the standards of the US-Mexico-Canada Agreement (USMCA), with the tariff applying solely to “non-US content” in the vehicles.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment