Source: BBC News [UK State Media]
“Germany has said it ‘will not give in’ and that Europe must ‘respond firmly’ as US President Donald Trump targets [American buyers of] imported cars and car parts with a 25% tax in his latest tariffs. Other major world economies have vowed to retaliate, with France’s president branding the move ‘a waste of time’ and ‘incoherent,’ Canada calling it ‘a direct attack,’ and China accusing Washington of violating international trade rules. Shares in carmakers from Japan to Germany sold off. In the US, General Motors dropped 7%, while Ford fell more than 2%. Trump has threatened to impose ‘far larger’ tariffs if Europe works with Canada to do what he describes as ‘economic harm’ to the US. The fresh car tariffs will come into effect on 2 April, with charges on businesses importing vehicles starting the next day.” (03/27/25)