United States President Donald Trump announced on Wednesday a 25% tariff on "all cars" manufactured outside the United States, with implementation set for April 2, coinciding with the previously declared reciprocal levies.
"This is the beginning of Liberation Day in America," Trump restated from the Oval Office noting that he would hold a press conference on April 2. "What we are going to be doing is a 25% tariff on all cars that are not made in the US. If they are made in the US there's absolutely no tariffs." He then signed the executive directive.
He also indicated that his administration is exploring tax deductions on car loan interest for domestically produced vehicles. Trump stated that the automotive tariffs would be "permanent" and that while reciprocal duties would apply to all nations, they would remain "lenient."
