Trump has continued his assault on global trade by introducing a new set of tariffs on March 26. This time, he has turned his attention to the automobile sector and slapped 25% tariffs on automobile and auto parts imports, which will come into effect on April 3. This was supposedly done to aid the ailing US automobile sector, which was ironically dealt a huge blow in Trump’s first term. The US auto industry, which has been gradually losing its sheen for a while now, suffered when key inputs – steel and aluminium – became more expensive due to Trump’s tariffs.
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