New Delhi, March 27 -- In a significant development, US President Donald Trump on Wednesday announced 25 per cent tariffs on overseas auto imports. The tariffs will be imposed on cars and light trucks imported into the US from April 2 and auto parts from May 3. According to the White House, it will strengthen domestic manufacturing. Trump said, "This will continue to spur growth. We'll effectively be charging a 25 per cent tariff."

The move has received flak worldwide, with various countries like Canada, Japan, and South Korea, including the European Union. Saying "this is permanent", Trump believes this could lead to factory openings in the United States and eliminate what he terms a "ridiculous" supply chain involving the United States...