US President announces 25% tax on imported cars

US President Donald Trump on March 26 announced his decision to impose a tax of up to 25% on imported cars - something he has long pledged to US voters.

Imported cars at the port of Long Beach, California, USA. (Photo: Getty Images/VNA)

Automotive industry experts predict that this move will drive up car prices and stifle production in the sector.

President Trump announced at an event in the Oval Office: "What we're going to do is impose a 25% tariff on all cars not made in the United States." The American leader added that if car manufacturers made their vehicles in the US , they wouldn't be subject to the tariff. This tariff decision will take effect on April 2nd.

The United States imported $474 billion worth of all types of automobiles last year, with passenger car imports accounting for $220 billion. Mexico, Japan, South Korea, Canada, and Germany, close allies of Washington, are the largest suppliers to the US automotive market.

Source: https://nhandan.vn/tong-thong-my-tuyen-bo-ap-thue-25-doi-voi-o-to-nhap-khau-post867944.html