President Trump is expected to reveal new tariffs on vehicle imports into the United States during a press event in his Oval Office this Wednesday.
He claimed that these tariffs would incentivize car manufacturers to increase production in the United States.
The president previously delayed the tariffs on Canada and Mexico for a month after discussions with Stellantis, a grouping of the major US automakers, including Ford, General Motors, and Jeep’s parent company. This postponement is slated to begin on April 2nd, alongside the anticipated reciprocal tariffs.
This action follows the administration’s implementation of a 25% tariff on imports from Canada and Mexico, as well as a 10% duty on goods from China. The president referenced ongoing issues with fentanyl and various drug trafficking as contributing factors.
The press conference is set to commence at 4 PM EDT, according to the White House Press Secretary.
Be sure to watch the live video above.
