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Trump announces new auto tariffs in a major trade war escalation

Quotes

    • 88:88
      This will continue to spur growth. We will effectively be charging a 25% tariff,
      India Times
      Trump told reporters, emphasizing that the move is permanent
    • 88:88
      What we're going to be doing is a 25 per cent tariff on all cars that are not made in the United States,
      CNA
      Trump said as he signed an order in the Oval Office
    • 88:88
      The only solution for the European Union will be to raise tariffs on American products in response."
      CNA
      And French Finance Minister Eric Lombard warned on Thursday
    • 88:88
      Within the Asia-Pacific region, the car levies will hit Japan and South Korea the hardest,
      CNA
      said Stefan Angrick and Dave Chia at Moody's Analytics
    • 88:88
      It's a stark reminder: Trump's not bluffing - or at least he's doing a damn good job pretending he's not,
      CNA
      said SPI Asset Management's Stephen Innes
    • 88:88
      If they become permanent, then there’s a whole bunch of different things that you have to think about, in terms of where do you allocate plants, do you move plants, etc,
      CNN
      General Motors CFO Paul Jacobson told investors last month
    • 88:88
      Let’s be real honest: Long term, a 25% tariff across the Mexico and Canada borders would blow a hole in the US industry that we’ve never seen,
      CNN
      Ford’s Farley said in his recent comments to investors
    • 88:88
      We’re going to have growth in the auto industry like nobody’s ever seen — plants are opening up all over the place,
      CNN
      he said in his recent address to Congress
    • 88:88
      There are not a lot of levers we can pull in the very short term,
      CNN
      said one auto industry executive, who spoke on background to CNN on Wednesday, in anticipation of Trump’s announcement
    • 88:88
      These are questions we asked throughout the supply chain crisis, and it does take time and investment of funds to be able to … bring new suppliers on board,
      CNN
      said the executive
    • 88:88
      If you’ve ever done a home renovation, you know that anything is feasible if you put enough money behind it, right? But economically feasible is a different question,
      CNN
      said the executive
    • 88:88
      It’s three years at best for brand new automotive capacity that could potentially span into a new administration, where the rules could change,
      CNN
      said the executive
    • 88:88
      If you build your car in the United States, there is no tariffs,
      CNN
      Trump told journalists at the Oval Office
    • 88:88
      A lot of companies are going to be in great shape because they’ve already built their plants, but their plants are under utilized,
      CNN
      he said
    • 88:88
      We’re already setting records for new plants,
      CNN
      he said
    • 88:88
      One of the losses from tariffs tends to be a loss of product variety,
      Saudi Gazette
      said another auto industry executive who spoke to CNN Wednesday
    • 88:88
      Ahn Duk-geun
      The US tariffs are expected to pose significant challenges for our automobile companies exporting a large volume to the US market,
      Saudi Gazette
      said Ahn Duk-geun, South Korea’s trade minister
    • 88:88
      I’ve spoken with Prime Minister Carney. We agree Canada needs to stand firm, strong and united, ... I fully support the federal government preparing retaliatory tariffs to show that we’ll never back down.”
      Saudi Gazette
      Ford said in a post on X
    • 88:88
      We were all kind of expecting April 2 to be our day,
      Saudi Gazette
      said the auto executive
    • 88:88
      We applaud the Trump administration for stepping up to end the free trade disaster that has devastated working class communities for decades,
      Saudi Gazette
      he said in a statement on Wednesday