Trump to Announce 'Reciprocal' Tariffs, Including 25% Tax on Foreign Automobiles

The tariffs, set to begin April 2, 2025, aim to reshape global trade but risk consumer cost hikes and international retaliation.

• Donald Trump is set to announce a new wave of 'reciprocal' tariffs on April 2, targeting imports based on foreign tariffs on U.S. goods.
• A 25% tariff on foreign-made automobiles and parts will take effect on April 3, 2025, impacting global automotive supply chains.
• Countries like Vietnam and Japan are taking preemptive measures, while the European Union and others are preparing retaliatory responses.
• The tariffs are expected to increase costs for U.S. consumers and businesses, with studies projecting an average loss of $2,700 in disposable income per household.
• Trump's policy reflects a broader nationalist economic agenda, drawing inspiration from historical U.S. protectionism during the 'Gilded Age.'

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