Former US President Donald Trump has said he intends to impose a 200 per cent tariff on cars made in Mexico if he wins next month’s election, which would be the highest tariff in US history.
Donald Trump made the announcement during a speech to voters in the state of Wisconsin. Trump initially proposed a 100 per cent tariff, but he doubled it during the event, saying he would not allow these cars to be imported into the US.
According to the Republican candidate, such a policy helps increase the number of jobs in the US, it encourages foreign companies to increase the number of their enterprises in the US. Otherwise, new duties will be applied to the products of foreign firms. Trump also said:
“We will impose a tariff of 200 per cent if we have to. We will not allow these vehicles to enter the United States.”
Last year, 3 million vehicles were exported from Mexico to the US, with major manufacturers such as GM, Ford and Stellantis accounting for nearly half of them. According to the US Tax Policy Center, the proposed tariffs on Mexican-made cars could raise the cost of domestic and imported vehicles – both new and used.
