Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

President Trump announced that the United States will hit back at any country that imposes trade barriers on American exports by subjecting them to sweeping “reciprocal” tariffs — an unprecedented move that threatens to upend the global economy,

Liberation Day’ plan puts markets on high alert Trump has arrived at the White House’s Rose Garden to make a highly anticipated announcement, giving his first detailed overview of the reciprocal tariff programme.