WASHINGTON – U.S. President Donald Trump has announced a sharp increase in import tariffs, imposing a 25% tariff on all foreign automobiles, with no exceptions—including Thailand.
In a White House press conference yesterday, Trump declared that the new tariffs are a retaliatory measure to match the import duties that other countries impose on U.S. goods. This move escalates the trade war that he reignited upon returning to the White House. The 25% tariff on all imported vehicles took effect immediately after midnight on Wednesday, local time.
Additionally, Trump revealed new import duties: 10% on goods from the United Kingdom, 20% from the European Union, and 34% from China. Thailand faces a 36% tariff increase, while Vietnam, Laos, and Cambodia will be hit hardest, with tariffs ranging from 46% to 49%. These new tariffs will take effect from April 9.
Trump declared that he is ushering in a “golden era” for America, stating that it is time for the U.S. to prosper. He also criticized major trade partners such as Canada and Mexico, accusing them of unfair trade practices. However, these tariffs will create new economic challenges for the world’s largest consumer economy, reversing decades of global free trade policies. Analysts predict retaliatory measures from U.S. trade partners, which could drive up prices on a wide range of goods, from bicycles to wine.
Previously, Trump had already imposed a 20% tariff on all Chinese imports and a 25% tariff on steel and aluminum. His administration has also expanded tariffs to nearly $150 billion worth of other products. According to Trump’s advisors, these tariff measures are designed to restore America’s strategic manufacturing capabilities—marking what Trump calls “America Liberation Day.” (TNA)
