Donald Trump announces 25% tariffs on foreign-built cars, light trucks

President Donald Trump on Wednesday announced imposition of 25 percent tariffs on all cars and light trucks not built on US soil.

“What we’re going to be doing is a 25 percent tariff on all cars that are not made in the United States. If they’re made in the United States, it is absolutely no tariff,” he announced at the White House.

(This is a developing story. Please check back for updates)