You’re reading the Morning Briefing: Asia Pacific Edition newsletter. Get what you need to know to start your day. Get it sent to your inbox.
Image
A BMW factory in Munich.Credit...Laetitia Vancon for The New York Times
Trump’s car tariffs increased the risk of a trade war President Trump’s plan to impose a 25 percent tariff on cars and parts imported into the U.S. sent a shudder through the global car industry. Markets in Asia, Europe and the U.S. wobbled yesterday as many automakers’ stock prices fell.
Trump announced the tariffs on Wednesday and then raised the stakes yesterday by threatening to target the E.U. and Canada if they banded together to retaliate. Talk of retaliatory measures increased the likelihood of a worldwide trade war.
The tariffs on all cars and some auto parts exported to the U.S. are set to go into effect on April 3. Mexico, Japan and South Korea, along with Canada, account for about 75 percent of U.S. vehicle imports. Here’s how major car brands will be affected by Trump’s tariffs.
Reactions: Mark Carney, Canada’s leader, said that the U.S. was “no longer a reliable partner” and that his country would announce its own retaliatory tariffs next week. In Germany, which has an auto industry that is a huge exporter to the U.S., the economy minister, Robert Habeck, said it was “crucial that the E.U. delivers a decisive response to the tariffs,” adding, “It must be clear that we will not back down.”
Advertisement
SKIP ADVERTISEMENT
More on Trump The Trump administration said it would lay off 10,000 employees at the Health and Human Services Department.
U.S. fighter pilots were angered that Defense Secretary Pete Hegseth leaked attack information. “You’re going to kill somebody,” one pilot said.
Trump asked Elise Stefanik to stay in Congress and not serve as U.N. ambassador amid concern about the narrow Republican voting majority in the House.
Track Trump’s actions since he took office.
Image
Leaders from Ukraine, France and Britain met yesterday.Credit...Pool photo by Ludovic Marin
Subscribe to The Times to read as many articles as you like.