Trump Considers Raising Tariffs on Imported Cars 'Soon

US President Donald Trump announced Thursday that he may raise the additional tariffs he imposed on imported cars to the United States "in the near future." "To further defend auto workers, I have imposed a 25 percent tariff on all foreign-made cars," Trump said during a White House ceremony. "I may increase these tariffs in the near future." He added that since he imposed the first round of tariffs on imported vehicles in early May, "investment in American industry, in the auto industry, and in industry in general, has increased," which he considered a sign that his policy was correct. Following his comments, shares of US manufacturers fell on Wall Street before recovering. Donald Trump recently decided to double the additional US tax on steel and aluminum imports to 50 percent. Since returning to power in January, the US president has made tariffs a central part of his policy. These tariffs aim to boost the industrial sector, generate new revenues, and encourage other countries to negotiate settlements in favor of the United States.