Economics
Global Car Markets Are in Reverse. Trump Is Making It Worse
- China reports January slump after Europe, U.S. car sales fall
- Trump to consider import tariffs after receiving probe report
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The tariffs that President Donald Trump may impose on vehicles imported to the U.S. would be just the latest kick in the teeth for carmakers battling cooling markets across the planet.
Findings of an investigation into whether imported cars could pose a national security threat were received by Trump on Sunday, prompting the European Union and Japan to push back against higher levies. On Monday, China reported yet another monthly slump in car sales. The world’s largest auto market joins other regions including Europe and the U.S. starting the year on a weak note, fueling anxiety over an industry already grappling with falling profits amid record spending to finance the shift to electric and self-driving cars.