Foreign leaders were quick to criticize the tariffs, a sign that Trump could be intensifying a broader trade war that could damage growth worldwide.

During the announcement, President Donald Trump made several claims about auto production in the U.S. that were false.

Noted economist Arthur Laffer warns in a new analysis that President Donald Trump’s 25% tariffs on auto imports could add $4,711 to the cost of a vehicle

U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.

Read President Donald Trump's proclamation imposing new auto tariffs on cars and light-duty trucks made outside the U.S.

US President Donald Trump has announced new import taxes of 25% on cars and car parts coming into the US in a move that threatens to widen the global trade war. Trump said the latest tariffs would come into effect on 2 April,

U.S. President Donald Trump said on Friday that he did not think it made sense for Americans to buy cars now to avoid the effects of tariffs that are set to go into effect in early April.

The new levies on cars and light trucks will take effect on April 3, the day after Trump plans to announce reciprocal tariffs aimed at the countries responsible for the bulk of the U.S. trade deficit.

The measure is intended to bring car factories to the United States but could increase prices for consumers significantly. The president said the tariffs will start next week.