Summary
Trump threatened “far larger” tariffs on the EU and Canada if they unite to harm the U.S. after announcing a 25% tariff on foreign-made cars and parts, effective April 2 and May respectively.
The tariffs aim to boost U.S. car production but may inflate prices by $5k-$10k per vehicle, harming both U.S. and foreign automakers.
Canada condemned the move as a “direct attack,” while the EU signaled potential retaliation.
Global markets reacted negatively, with car stocks dropping amid fears of escalating trade tensions.
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I’ve seen a person demonstrate how you can dig yourself out of hole. It takes hard work and ingenuity but it is possible.