US President Donald Trump (Photo: Xinhua/VNA) |
"Maybe around April 2," Trump said in response to a question about when auto tariffs might be coming, during an executive-order signing session in the Oval Office. It was the latest in a series of trade actions Trump has unveiled since taking office for the second time on January 20.
Since his inauguration, he has imposed a 10% tariff on all imports from China, on top of existing levies; announced and then delayed for a month 25% tariffs on goods from Mexico and non-energy imports from Canada; set a March 12 start date for 25% tariffs on all imported steel and aluminum; and on Thursday directed his economics team to devise plans for reciprocal tariffs on every country that taxes US imports.
Trump offered no other details for his auto tariff intentions but what he views as unfair treatment of US automotive exports in foreign markets has long been a sore spot for him. The European Union, for instance, collects a 10% tariff on vehicle imports, four times the US passenger car tariff rate of 2.5%. The US, though, collects a 25% tariff on highly profitable imported pickup trucks.