MIRIAM NNOLI 
On Thursday, the World leaders faulted the United States (US) President, Donald Trump’s steep tariffs on imports of vehicles and car parts, vowing retaliation as a widening trade war intensifies.
New Telegraph had earlier reported that the US duties signed by President Trump would take effect at 12:01 am (0401 GMT) on April 3 and impact foreign-made cars and light trucks.
Correspondingly, the key automobile parts will also be hit within the month.
Reacting to the announcement, the major car exporter, Germany, called for a firm response from the European Union (EU), while Japan said it would consider all options.
Stock markets across Asia and Europe skidded into the red as auto manufacturers from Toyota to Hyundai and Mercedes led the plunge.
France Finance Minister Eric Lombard condemned the hostility, saying that the only solution for the EU will be to raise tariffs on American products in response.
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Canada’s Prime Minister Mark Carney said he had convened a meeting on Thursday, March 27, to discuss our trade options.
However, Washington’s major trading partners warned of retaliatory action, Trump ramped up his threats.
“If the European Union works with Canada in order to do economic harm to the USA, large-scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Trump posted on his Truth Social network.
The Association of American Automakers warned in a statement that the tariffs must be implemented in a way that avoids raising prices for consumers and preserves the industry’s competitiveness.
