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The Guardian - UK
The Guardian - UK
World
Julia Kollewe and Kiran Stacey

Carmaker shares fall after Trump 25% tariff move as Reeves warns against trade war

Donald Trump United States United Kingdom Rachel Reeves Germany European Union Porsche Volkswagen
Cars at the tower storage facility of the German carmaker Volkswagen’s plant in Wolfsburg.
Cars at the tower storage facility of the German carmaker Volkswagen’s plant in Wolfsburg. Photograph: Ronny Hartmann/AFP/Getty Images

Shares in automakers around the world fell sharply on Thursday after Donald Trump announced a 25% tariff on all car imports to the US in the latest escalation of his global trade war.

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

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