Trump plans new auto tariffs to reshape trade by April 2

U.S. President Donald Trump announced plans to introduce new tariffs on automobiles around April 2. This move is part of his broader strategy to reshape global trade and encourage companies to produce more in the U.S. The tariffs could significantly impact major auto brands from Japan, Germany, and South Korea, as imports make up about half of the U.S. auto market. Details on the specific rates and scope of the tariffs remain unclear. This announcement follows Trump's recent order for reciprocal tariffs on countries with import taxes on U.S. goods. Canada and Mexico are also facing a potential 25% tariff on imports, which has been temporarily paused.