Donald Trump has spared the car industry from his tariff war against Mexico and Canada for 30 days. But for European, Japanese and South Korean car executives, it is hardly a reprieve.
The US president has warned that “reciprocal” tariffs on America’s trading partners will come into effect on April 2 — the same day that the 30-day delay on 25 per cent tariffs on imports from its North American neighbours is set to expire.
Trump has said he will raise tariffs to retaliate against taxes, levies, regulations and subsidies that Washington considers unfair. But the lack of detail on how reciprocal tariffs will work has made car industry executives nervous.
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