U.S. President Donald Trump said he is imposing 25 per cent tariffs on all autos manufactured outside of the United States, including Canada, starting April 2.

“What we’re going to be doing is a 25 per cent tariff on all cars not made in the United States,” he said, in the Oval Office Wednesday evening. “If they’re made in the United States there is absolutely no tariffs.”

Trump signed a proclamation following the announcement, though it was not immediately released. Trump said collection of tariff revenue would begin on April 3 and a White House official said the tariffs are expected to generate US$100 billion in new annual revenue for the U.S. Treasury.

A fact sheet release by the White House indicate that the tariff would apply to imported passenger vehicles and light trucks, “as well as key automobile parts (engines, transmissions, powertrain parts, and electrical components), with processes to expand tariffs on additional parts if necessary.”

Read Full Article Here