Markets plummet globally ahead of Trump's new tariffs, expected to raise car prices.

Global markets are experiencing significant sell-offs ahead of President Trump's planned tariffs set to take effect on Wednesday. Asian and European indices, including Japan's Nikkei and South Korea's KOSPI, saw declines of over 4% and 3%, respectively, while European markets fell by around 1.76-1.82%. U.S. markets closed last week with substantial losses. The tariffs, expected to include a 25% tax on imported vehicles, are predicted to raise prices for foreign and domestic cars due to higher costs for imported parts and increased demand for U.S.-made vehicles. Trump claims these tariffs will benefit the U.S., but analysts fear potential economic repercussions.

1 week ago
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