On March 27, President Trump issued a statement announcing a 25% tariff on all imported cars. The tariffs will take effect on April 2. Trump stated that the car tariffs will be permanent. He indicated that cars manufactured in the United States would be exempt from the tariffs. Trump added that car parts produced in the US would not be affected by the tariffs if the complete vehicle is not manufactured in the US. Trump also mentioned that the US would impose tariffs on wood and medicines. US officials estimated that the tariffs would generate over $100 billion in new annual revenue. The 25% car tariffs will be imposed on top of existing tariffs (typically 2.5%). The Premier of Ontario, Canada, expressed support for retaliatory tariffs against the US; European Commission President von der Leyen expressed regret over the US car tariffs and stated that they would assess this action and other US measures in the coming days, seeking to resolve the issue through negotiations. (Jinshi)