Hello, and welcome to NewsHour from the BBC World Service.
We're coming to you live from London.
I'm James Menendez,
and we're going to begin the programme today talking about cars and the impact of President Trump's announcement of a 25% tariff or tax on all imports of cars made outside the US and on all imported parts,
even if they go into cars made inside the US Mr. Trump signed the executive order which will introduce the tariff from 2 April at the White House on Wednesday,
saying it would boost America's domestic vehicle production and bring down prices.
So we'll effectively be charging a 25% tariff.
But if you build your car in the United States, there is no tariff.
And what that means is a lot of foreign car companies,
a lot of companies are going to be in great shape because they've already built their plant,
but their plants are underutilized, so they'll be able to expand them inexpensively and quickly.
But others will come into our country and build, and they're already looking for sites.
Well, the move has thrown the global car industry into turmoil,
and it is in many cases an industry whose supply chain can span several countries.
Germany and France described it as very bad news.
Japan said it was considering appropriate countermeasures.
And shares in car and car part manufacturers have fallen in both Europe and Asia.
And Canada's new prime Minister, Mark Carney,
called the tariffs a direct attack on Canadian workers.
You know, this will hurt us, but through this period, by being together, we will emerge stronger.