President Trump on Wednesday adjusted tariffs on foreign-made cars to impose 25% tariffs on “imported passenger vehicles (sedans, SUVs, crossovers, minivans, cargo vans) and light trucks, as well as key automobile parts (engines, transmissions, powertrain parts, and electrical components), with processes to expand tariffs on additional parts if necessary.” This comes as the President’s executive order, which will impose sweeping reciprocal tariffs on every country that charges the United States taxes or tariffs on imported goods, is scheduled to take effect on April 2. The White House and President Trump have repeatedly referred to April 2 as “Liberation Day.” Already, President Trump has brought trillions of dollars in American manufacturing investments back to the United States from overseas as companies seek to avoid tariffs. As…
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