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President Donald Trump announced 25% tariffs on auto imports to promote domestic manufacturing.
The tariffs could impact automakers that rely on global supply chains for parts.
General Motors and Ford stocks have fallen in response to the announcement.
Trump believes the tariffs will lead to more production relocating to the U.S.
The auto tariffs are part of Trump's broader strategy to reshape global relations and impose reciprocal taxes on other nations.
Source: Associated Press
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