Trump's Auto Tariffs Stir Global Economic Concerns

President Trump has announced a 25% tariff on imported cars and auto parts, set to take effect on April 2, with the goal of rejuvenating U.S. manufacturing and addressing trade imbalances. The tariffs have raised concerns among global leaders about potential inflation and higher consumer prices. Canada and the EU have hinted at retaliatory tariffs, leading Trump to threaten even harsher penalties if they act jointly against U.S. interests. Economists warn these measures could negatively impact global GDP and exacerbate inflationary pressures in the U.S., though some industries like energy and gold may outperform. The United Auto Workers union supports the tariffs for potentially boosting domestic jobs, but experts caution that the tariffs could disrupt established supply chains and have long-term economic consequences.