Trump announces 25% tariffs on imported cars

March 27, 2025 9:59 AM

Trump announces 25% tariffs on imported cars

U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production. "What we're going to be doing is a 25% tariff for all cars that are not made in the United States," Trump said at an event in the Oval Office. Trump, who sees tariffs as a tool to raise revenue to offset his p...

Biden sharply hikes US tariffs on Chinese imports

May 14, 2024 3:34 PM

Biden sharply hikes US tariffs on Chinese imports

U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. Biden will keep tariffs put in place by his Republican predecessor Donald Trump while ratcheting up others, the White House said in a statement citing "unacceptable risks" to U.S. "economic security" posed by w...