US President Donald Trump says he may cut tariffs on China to help seal a deal for short video app TikTok to be sold by its owner ByteDance. Trump also said he is willing to extend a 5 April deadline for a non-Chinese buyer of the platform to be found. In January, he delayed the
President Trump said on Wednesday that he would impose a 25 percent tariff on cars and car parts that were imported into the United States, a move that could encourage U.S. auto production over the longer run but is likely to throw global supply chains into disarray and raise prices for Americans who buy an
New cars will probably become much more expensive in the United States after President Trump imposed a new 25 percent tariff on foreign-made cars. Cox Automotive, a research firm, estimates that tariffs would add $6,000 to the price of a car made in Mexico or Canada, two of the top exporters of vehicles to the
Tesla could be a winner from the auto tariffs announced by President Trump on Wednesday — or at least suffer less than its competitors. Tesla, whose chief executive, Elon Musk, has taken a leading role in the Trump administration, makes all the cars that it sells in the United States in California and Texas. That
Stocks slumped on Wednesday ahead of President Trump’s announcement of tariffs on auto imports, as investors braced for levies that could disrupt carmakers’ supply chains and raise costs for consumers. The S&P 500 fell roughly 1.1 percent for the day, and the tech-heavy Nasdaq Composite was 2 percent lower. The downturn reflected ongoing volatility in
After months of threats, the White House unveiled plans on Wednesday to impose tariffs on automobiles imported to the United States, a plan that is likely to hit car companies across the European Union hard. The move — which would place a 25 percent tariff on all cars not built in the United States —
President Trump announces tariffs on auto imports in the Oval Office of the White House in Washington on Wednesday. Since returning to the presidency in January, Trump has already imposed tariffs on imports from major US trading partners Canada, Mexico and China — as well as a 25 percent duty on steel and aluminum imports.
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. Trump claimed the measure would lead to “tremendous growth” for the car industry, promising it would spur jobs and
New cars will probably become much more expensive in the United States when President Trump imposes new tariffs on foreign-made cars and auto parts. Barring exceptions, tariffs of, say, 25 percent on cars and parts made in Mexico and Canada would add $3,000 even to the cost of cars assembled in the United States, said
Stocks slumped on Wednesday ahead of President Trump’s expected announcement of tariffs on auto imports, as investors braced for levies that could disrupt carmakers’ supply chains and raise costs for consumers. The S&P 500 was roughly 1.2 percent lower in afternoon trading, and the tech-heavy Nasdaq Composite was down 2.2 percent. The downturn reflected ongoing