Trump places 25% tariff on imported autos, expecting to raise $100 billion in tax revenues
President Donald Trump arrives at the annual St. Patrick's Day luncheon at the Capitol in Washington, Wednesday, March 12, 2025. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) — President Donald Trump said Wednesday he was placing 25% tariffs on auto imports, a move that the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains.
"This will continue to spur growth," Trump told reporters. "We'll effectively be charging a 25% tariff."
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