US automakers are facing a massive hike in car production costs with the imposition of 25% tariffs on all imported steel and aluminium.
The levies came into effect this morning, with President Trump having rowed back after threatening to hit Canada with 50% tariffs, although he maintained his recommendation that its northern neighbour become the US’s 51st state, to avoid a costly trade war.
While the intent is to penalise those importing …
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