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| Trump announces 25% tariffs on car imports to US | Trump announces 25% tariffs on car imports to US |
| (32 minutes later) | |
| Donald Trump has announced new trade taxes of 25% on cars being imported to the US. | Donald Trump has announced new trade taxes of 25% on cars being imported to the US. |
| The US President said the latest tariffs would come into effect on 2 April, with collections starting the next day. | The US President said the latest tariffs would come into effect on 2 April, with collections starting the next day. |
| Trump claimed the measure would lead to "tremendous growth" for the car industry, promising it would spur jobs and investment in the US. | |
| But analysts have said the move is likely to cause major disruption in car production, increase prices, and strain relations with allies. | |
| Mexico is the top foreign supplier of cars to the US, followed by South Korea, Japan, Canada and Germany. | |
| Shares in General Motors slid roughly 3% on Wednesday, as the White House said it was planning the announcement. | |
| Asked at a press conference if there was any chance he would reverse course, Trump said no. | |
| "This is permanent," he said, adding: "But if you build your car in the United States there is no tariff." |