President Donald Trump revealed today that tariffs of at least 25% on automobiles imported to the United States could be implemented as early as April 2. During a press briefing at his Mar-a-Lago resort in Florida, Trump stated that the tariff rate could escalate significantly over the course of a year.
Trump emphasized that the proposed tariffs would not be immediately enforced, allowing car manufacturers time to relocate their production facilities to the US in order to avoid the tariffs. This announcement follows Trump's recent directive to investigate the tax and tariff policies of other countries, potentially leading to reciprocal tariffs taking effect on April 2.
Howard Lutnick, Trump's nominee for commerce secretary, indicated that the investigation is scheduled to conclude on April 1, paving the way for the implementation of new tariffs the following day.
In addition to the potential auto tariffs, Trump has already imposed a 10% tariff on a wide range of goods imported from China. Furthermore, the US has enacted 25% tariffs on all steel and aluminum imports.
