Trump: All imported cars will face a 25% tariff

US President Trump said on the 18th that the United States will impose a tariff of about 25% on imported cars, and he will officially announce this tariff measure on April 2.

At a press conference at Mar-a-Lago in Palm Beach, Florida that day, Trump said that import tariffs on products such as medicines and chips will also be initially set at around 25%, and will be “substantially increased” within a year.

Trump said that tariffs will prompt companies to return to the United States, and if they set up factories in the United States, the tariffs will be zero. He said that some large companies have told him that due to the US economic policies on tariffs, taxes, and incentives, these companies “want to return to the United States.”

Trump signed a document on the 10th, announcing a 25% tariff on all US imported steel and aluminum, and canceling the steel and aluminum duty-free quotas and exemption policies for some trading partners. He also signed a memorandum on the 13th, requiring relevant departments to determine “reciprocal tariffs” with each foreign trading partner.

The United States’ tariff policy has aroused opposition from all parties. Political, business and academic figures from many countries believe that this will seriously undermine the rules-based multilateral trading system, impact the global supply chain, hinder global economic recovery, and harm the interests of all parties.