As you know, President Donald Trump is on the verge of imposing new tariffs on auto imports. According to a White House official, these tariffs could be implemented as soon as Wednesday. This creation is just the latest step in Trump’s years-long plan to impose crippling tariffs on foreign competitors. It’s not clear when the announcement would take effect, but the new duties could be implemented as soon as later this week.
First, during a Cabinet meeting earlier this month, Trump telegraphed the auto tariffs. These new responsibilities could be implemented long before the all-encompassing “reciprocal tariff” scheme ever gets underway. That plan is scheduled to begin on April 2. This blueprint is central to Trump’s trade policy. Specifically, it takes aim at what he perceives to be hostile or unfair trade practices by foreign countries.
Bloomberg was the original source on this story on the upcoming auto tariffs. A White House official later confirmed to CNBC that Trump could announce the tariffs as soon as Wednesday. When that might happen is still up in the air. There is a chance an announcement could come as soon as later this week.
"We'll be announcing that fairly soon over the next few days, probably, and then April 2 comes, that'll be reciprocal tariffs." – President Donald Trump
The President has repeatedly telegraphed his desire to slap unprecedented punishing tariffs on our foreign trading partners. He intends to use these punitive tariffs as leverage in larger trade negotiations. The proposed auto tariffs are another example of this approach, intended to protect the domestic auto industry and combat trade deficits.