Asian, European and North American countries have put Donald Trump on notice of possible retaliation against his 25 per cent car tariffs, threatening to ignite a full-blown global trade war.
Japan’s Prime Minister Shigeru Ishiba said “every option” was under consideration and South Korea promised an emergency response after the US president announced the tariffs would go into effect on April 2, when Washington is also expected to apply a range of reciprocal tariffs against America’s trading partners.
The car tariffs are Trump’s most aggressive trade policy move to date and hit shares in carmakers from Toyota to Stellantis to Porsche. The Stoxx Europe 600 Automobiles & Parts index fell 3 per cent in early trading on Thursday.
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