“This will continue to spur growth,” Trump told reporters. “We'll effectively be charging a 25% tariff.” The post Trump places 25 percent tariff on imported autos, expecting to raise $100 billion in tax revenues appeared first on Boston.com.
President Trump imposed a 25% tariff on imported autos, expecting $100 billion in revenue and spurred growth. This policy aims to foster domestic manufacturing but risks straining automakers using global supply chains. The tariffs are part of a broader strategy, including "reciprocal" taxes and existing tariffs on China, Mexico, Canada, steel, and aluminum, with planned tariffs on other goods. These actions risk a global trade war and price increases, and has already spurred retaliation, while aides say the tariffs are aimed at curbing immigration, drug smuggling, and lowering the deficit.
