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How car giants are reacting to Trump’s tariffs: Live Updates

Eduardo Sifuentes
Business, U.S., VIP News
April 4, 2025
0 Comments

preCharge News BUSINESS — Auto giants have responded to U.S. President Donald Trump’s tariffs by announcing plans to raise prices, impose import fees, pause production and even layoff staff.

As part of plans designed to shift production to U.S. factories and bolster American jobs, the Trump administration on Thursday introduced 25% tariffs on foreign auto imports. The White House also said it intends to place tariffs on some auto parts no later than May 3.

The measures, which were separate to Trump’s sweeping new tariffs on major trading partners, have hit the global automotive industry hard.

Shares of some of the world’s biggest car brands traded sharply lower on Friday, extending steep losses from the previous session.

Auto stocks fell deeper into negative territory shortly after China’s finance ministry said Beijing intends to impose a 34% tariff on all goods imported from the U.S. starting on April 10.