Donald Trump’s tariffs throw car industry into turmoil

The global car industry has been thrown into turmoil by Donald Trump’s new “draconian” tariff regime that automotive executives expect will raise American vehicle prices, reduce US car production and cost carmakers up to $110bn.

The US president’s announcement on Wednesday evening that he would impose a 25 per cent tariff on imports of foreign-made cars sparked a scramble to understand the details of the policy and to identify potential exemptions that could alleviate the hit to the…