*Tariffs for automobile imports went into effect on April 3
*These tariffs will hit the poorest families in the country the hardest
*Economists forecast an economic recession in the country
*These tariffs will hit the poorest families in the country the hardest
*Economists forecast an economic recession in the country
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NewsTranscript
00:00And the new tariffs imposed by Donald Trump on the world will not only affect the international
00:05economy but could also be a setback for the United States itself.
00:08Our correspondent Enrique Camelo from New York has the story.
00:15The imposition of global tariffs by the Trump administration has shaken world markets.
00:20After the announcement, the main stock markets closed lower due to the uncertainty of the
00:25economic and financial course of this country.
00:28In China, the European Union, Japan and South Korea announced retaliatory measures.
00:33However, economists expect the economic impact to be much less than anticipated.
00:45I think that at the end of the day, the market will adjust.
00:48The other countries can no longer raise tariffs.
00:50So what the United States would do would be to raise them even more so that you no longer
00:54buy a German car and you end up buying a United States car.
00:58No.
00:59And that obviously is not going to benefit literally anyone.
01:07Tariffs for automobiles imported to the United States went into effect as of April 3rd, and
01:11sales have already plummeted, something that has dealership owners very worried.
01:19They're very concerned that the cars are going to become unaffordable, and that's something
01:24that we're concerned about as well, because if the cars aren't affordable, then we can't
01:28help our customers.
01:29You know, that's our primary goal is make sure that our customers are served.
01:34With the new 25 percent tariff on imported cars, U.S. consumers will be paying between
01:41$5,000 and $15,000 more for the purchase of a new car.
01:48We are not going to be able to change our car.
01:50We are simply going to have to maintain it better, take better care of it and move on
01:54– nothing more.
02:02According to a study by the Yale University Research Center, these tariffs will hit the
02:06poorest families in the United States the hardest, who could experience a drop in income
02:10of up to 5.5 percent.
02:12In that sense, the so-called liberation day for Democrat leaders is the beginning of a
02:16new recession.
02:20House Republicans, Senate Republicans and Donald Trump haven't done a single thing
02:25to lower the cost of living in this country.
02:29Not a single bill, not a single executive order.
02:34In fact, Republicans are crashing the American economy in real time and driving us to a recession.
02:44This is not liberation day, it's recession day.
02:47Economists from all over the country agree, predicting an economic recession in the United
02:54States as a result of these new tariffs and the economic war that Trump has declared on
03:00the world.