US President announces 25% tax on imported cars

US President Donald Trump on March 26 announced his decision to impose a tax of up to 25% on imported cars - something he has long pledged to US voters.

Imported cars at Long Beach port, California, USA. (Photo: Getty Images/VNA)

Auto industry experts predict the move will push up car prices and stifle production in the industry.

"What we're going to do is we're going to impose a 25 percent tariff on all cars that are not made in the United States," President Trump said at an Oval Office event. The US leader added that if the car manufacturers were in the US , they wouldn't have to pay the tax. The decision to impose the tax will take effect on April 2.

The United States imported $474 billion worth of vehicles last year, including $220 billion worth of passenger cars. Mexico, Japan, South Korea, Canada and Germany, Washington's close allies, are the largest suppliers to the US auto market.

Source: https://nhandan.vn/tong-thong-my-tuyen-bo-ap-thue-25-doi-voi-o-to-nhap-khau-post867944.html