Trump Placing 25% Tariffs On Auto Imports

WASHINGTON (AP) — President Donald Trump says he is placing 25% tariffs on auto imports, a move the White House claims will foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains. “This will continue to spur growth,” Trump told reporters Wednesday. “We’ll effectively be charging a 25% tariff.” The tariffs could be complicated as even U.S. automakers source their components from around the world, meaning that they could face higher costs and lower sales. Shares in General Motors fell roughly 3% in Wednesday afternoon trading. Ford’s stock was up slightly. Shares in Stellantis, the owner of Jeep and Chrysler, dropped nearly 4%.