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Trump announces new auto tariffs in a major trade war escalation | CNN Business

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President Donald Trump on Wednesday announced 25% tariffs on all cars shipped to the United States, a significant escalation in a global trade war.
On March 26, 2025, the U.S. government announced new tariffs on imported automobiles, aiming to protect domestic manufacturers and address trade imbalances. The tariffs, set to take effect in 90 days, will impose a 25% duty on cars and a 10% duty on auto parts from specific countries, notably targeting nations with significant trade surpluses with the U.S. This move has sparked a mix of reactions; domestic auto industry leaders have welcomed the decision, anticipating a boost in local production and job creation, while foreign manufacturers and some economists warn of potential retaliatory measures and increased costs for American consumers. The administration argues that these tariffs are necessary to level the playing field and encourage fair trade practices, amidst ongoing negotiations and tensions in international trade relations.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/03/26/economy/auto-tariffs-announcement/index.html ]