President Donald Trump said Wednesday he was placing 25% tariffs on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains.

President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week.

U.S. President Donald Trump has announced he is putting a 25 per cent tariff on all vehicles made outside the country starting April 2.