Trump Announces 25% Tariff on Imported Vehicles Effective April 2nd

President Trump announced a 25% tariff on vehicles manufactured outside the U.S., effective April 2nd. This includes U.S. brands assembled abroad. He stated the tariffs aim to encourage domestic investment and job creation. The administration anticipates generating $100 billion annually from these tariffs. Industry experts predict potential vehicle price increases of $5,000 to $10,000. The tariffs coincide with the expiration of a trade exemption for vehicles under the USMCA agreement with Canada and Mexico. The EU Commission President expressed deep regret and stated the bloc will evaluate its response. A bill in Nigeria proposes that National Assembly members must officially resign from their political party before defecting to another.