Trump targets the auto industry in new tariffs

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• 00:00

  Hello and welcome to World Business Report here on the BBC World Service.

• 00:03

  I'm Rahul Tanden.

• 00:04

  Plenty coming up on this edition, as always,

• 00:07

  it's a year since a container ship crashed into Baltimore's Francis Scott Key Bridge.

• 00:13

  We're going to hear from Baltimore about how its economy has rebuilt.

• 00:18

  And as economic pressure grows on governments around the world,

• 00:21

  should they be borrowing big to balance the books?

• 00:24

  Now, one reason they might be doing that is because of increased tariffs.

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  So that's where we're going to start in the White House where a short while ago the US President Donald Trump made this announcement.

• 00:36

  So we'll effectively be charging a 25% tariff.

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  But if you build your car in the United States, there is no tariff.

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  And what that means is a lot of foreign car companies,

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  a lot of companies are going to be in great shape because they've already built their plant,

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  but their plants are underutilized.

• 00:51

  So they'll be able to expand them inexpensively and quickly.

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  But others will come into our country and build and they're already looking for sites.

• 01:00

  They're looking for mostly sites.

• 01:02

  They don't want to take the old buildings that are empty and falling down.

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  They want to build new.

• 01:07

  Donald Trump there.

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