USA: Donald Trump Prepares to Announce Tariffs on the Automotive Industry

US President Donald Trump is set to announce tariffs on the automotive industry today (March 26, 2025), according to the White House, escalating his trade battle with global partners ahead of a broader tariff push next week. White House Press Secretary Caroline Leavitt stated that Trump will address from the Oval Office to detail his actions, allowing him to disclose specifics. Stock markets declined following an initial Bloomberg report about Trump’s plans to announce these tariffs. The S&P 500 fell by 0.8%, extending its quarterly decline, which will be the worst since 2023. The industrial Dow Jones Average fluctuated, while a Bloomberg indicator for large-cap stocks dropped by 2.3%. The Russell 2000 slid by 0.7%. Earlier this week, Trump told reporters he would outline automobile contributions in the coming days, suggesting they could come before the scheduled April 2 retaliatory tariffs targeting other nations. The president claimed these tariffs would boost domestic automotive sector growth and compel companies to shift more production to the US. Details regarding the level, scope, exceptions, immediate implementation, or whether final vehicles or auto parts will be affected remain unclear.