“That’s why effective at midnight we will impose a 25% tariff on all foreign made automobiles,” Trump says.
Trump announces 25% tariff on foreign-made vehicles from midnight
- Trump says when it comes to trade, sometimes the “friend (is) worse than the foe”
- He says that over 80% of cars made in South Korea are sold in South Korea, and over 90% of cars sold in Japan are made in Japan, and that US-made cars represent only a small fraction in those countries
- “Ford sells very little” in other countries, Trump says, an imbalance which has “decimated” US industries