„Hang tough, it won’t be easy,“ President Donald Trump said on Saturday of new tariffs, while pledging the „end result will be historic.“
Major Japanese automobile company Nissan is considering moving some of its production to the U.S., according to a new report, in what could be one of the first indicators for President Donald Trump that his sweeping tariffs may have the impact the White House intends.Why It Matters
The White House placed a 25-percent tariff on auto imports, which came into effect on Thursday, as part of a wide-ranging raft of measures that ripped through the global financial markets.
The Trump administration has said the taxes on imported goods will spur on domestic manufacturing, encourage U.S. consumers to buy American-made products and boost the economy. The U.S. automobile industry „has been undermined by excessive imports threatening America’s domestic industrial base and supply chains“, the White House said last month.
