<h1>Trump Announces Sweeping Tariffs on Auto Imports and Global Trading Partners Despite Warnings of Economic Impact</h1> President Trump announced sweeping tariffs, claiming the global trade system has exploited the US economy for decades. The plan includes 25% taxes on auto imports and levies against China, Canada, Mexico, with expanded penalties on steel and aluminum. White House estimates suggest the tariffs could raise $600 billion annually, though economists warn they may cost households $3,400-$4,200 more per year. European allies are preparing countermeasures, with the European Commission indicating readiness to retaliate if necessary. Critics argue the tariffs represent a massive tax increase without congressional approval, while supporters suggest initial economic disruption may lead to long-term benefits for Americans.