Trump threatened "far larger" tariffs on the EU and Canada if they cooperate to counter his trade policies, according to CNBC. The warning followed his announcement of a 25% tariff on all foreign-made cars, effective April 2nd, with additional levies on imported parts set for May. White House aide Will Scharf said the new tariffs could generate over $100 billion annually. Global markets reacted sharply, with automaker stocks falling. Analysts warn the tariffs could raise car prices by up to $10,000 and intensify inflationary pressure in the U.S.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump threatened far larger tariffs on the EU and Canada if they cooperated to counter
00:07his trade policies that according to CNBC. The warning followed his announcement of a 25%
00:11tariff on all foreign-made cars effective April 2nd. Additional levies on imported parts set for
00:16May. White House aide Will Scharf said the new tariffs could generate over $100 billion annually.
00:22Global markets reacted sharply with automaker stocks falling. Analysts warned the tariffs
00:26could raise car prices by up to $10,000 and intensify inflationary pressure in the U.S.
00:32For all things money visit benzinga.com slash gstv