WASHINGTON — President Trump announced a 25% tariff on all foreign-made cars Wednesday — saying it would boost domestic manufacturing.
Trump announced the move in the Oval Office, saying that “this is gonna lead to the construction of a lot of plants” to build cars domestically.
“We’ll effectively be charging a 25% tariff, but if you build your car in the United States, there is no tariff,” he said.
White House staff secretary Will Scharf told Trump that the action was projected to raise $100 billion in revenue — though analysis has suggested it may also sharply reduce import volume.
The tariffs will take effect April 2, the same day as so-called “reciprocal” tariffs on goods from around the world, Trump added
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