President Donald Trump imposes 25% of prices on all imports of cars

The prices come as analysts warn that they could in fact affect the American automotive industry, because even national car manufacturers get their components from around the world, which means that they could face higher costs and higher sales.

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US President Donald Trump said on Wednesday that he placed 25% prices on car imports, a move that the American leader claims would stimulate national manufacturing.

This is permanent, said Trump, highlighting his seriousness about the tariff directive. He added that the vehicle prices would come into effect next Friday.

The prices come as analysts warn that this could probably affect the American automotive industry, because even American car manufacturers get their components from around the world, which means that they could face higher costs and higher sales.

Some of the projections believe that the likely average price of an imported car could increase by around 11,000 if taxes are fully transmitted to the buyer, which could contribute to general inflation.

In the first reaction to Trump's announcement, General Motors' shares plunged around 3% Wednesday afternoon while Stellantis, owner of Jeep and Chrysler, dropped by almost 4%. The Fords stock was slightly up.

Leyen reacts

A rapid reaction followed in Brussels, where the president of the European Commission Ursula von der Leyen expressed his regret to the American decision. She has sworn that the block would protect consumers and businesses.

Prices are bad taxes for businesses, worse for consumers also in the United States and the European Union, she said in a statement, adding that EUS's executive power would assess the impact of the decision, as well as other American rates scheduled for the next few days.

Trump has long declared that he would impose prices for automotive imports as a brand brand of his presidency, hoping that the price of taxes increased, more manufacturing would move to the United States and that the budget deficit would be reduced.

However, American and international manufacturers already have plants from around the world to meet the demand of customers around the world while keeping competitive prices.

It is to be feared that he will make companies years to plan, build and launch the additional factories that Trump offers.

Canada calls for Trumps prices a direct attack.

Meanwhile, Canadian Prime Minister Mark Carney says he has to see the details of the Trump decree before taking reprisal measures.

He described Trump's prices as unjustified and said that he would go directly to Ottawa to chair his special American relations committee on US relations on Thursday.

Earlier, Carney announced a 1.2 billion strategic response fund that will protect Canadian automotive jobs affected by Trumps prices.

Carney stressed that the automotive industry employs 125,000 Canadians directly and nearly 500,000 others in connected industries, making it the country's second export.

The recently named Prime Minister wants to mitigate the effect of prices on the Canadian economy and called for interviews with Trump, to whom he has not yet met or spoke since his enslave on March 14.

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