FRANKFURT, Germany (AP) — Whatever domestic economic gain comes from U.S. President Donald Trump’s new 25% tax on imported cars – and experts are skeptical – automakers around the world are bracing for a lot of pain. In Japan, South Korea, Mexico, Canada and across Europe, the world’s largest automakers employ millions of people whose livelihoods depend on U.S. car buyers, who currently spend more than $240 billion annually on imported cars and light trucks. The Trump tariffs — aimed at boosting U.S. jobs and tax revenues — will also affect imported auto parts, which were valued at $197 billion last year. The head of a European association for automakers says “the impact will be really huge and very disruptive” — and push average car prices higher.
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