White House says President Trump will announce auto tariffs today [Video]

White House Press Secretary Karoline Leavitt said U.S. President Donald Trump will announce tariffs on auto imports at 4 p.m. Wednesday in the Oval Office.

Leavitt did not offer details about how the tariffs would affect the North American automobile industry, which is integrated among Canada, Mexico and the United States.

It’s also not clear how the tariffs would apply to vehicles made under the terms of the Canada-U.S.-Mexico Agreement on trade, negotiated during the first Trump administration.

Trump has said that he would implement industry-specific duties on the automobile sector at some point during his escalating trade war with the world. His on-again, off-again trade war has caused uncertainty in markets and the automobile sector.

Shares in General Motors fell roughly 1.7 per cent in Wednesday afternoon trading. Ford’s stock was down roughly 1.5 per cent.

Trumppreviously said he would announce auto tariffs on April 2 — the same day he …