Trump’s Tariffs Will Accelerate America’s Economic Decline
The new 25% US tariff on car imports aims to boost domestic manufacturing but will likely harm the economy in the long run. Countries with lower labor costs like China will continue to outcompete the United States and gain a stronger foothold in the global market.
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NEW YORK – On March 26, President Donald Trump signed an executive order imposing a 25% tariff on all cars and light-duty trucks imported into the United States. This measure took effect on April 3 – one day after the administration rolled out its “reciprocal tariffs” on US trading partners. Trump tried to reassure nervous Americans, promising that “our automobile business will flourish like it’s never flourished before.”