U.S. President Trump announced on Wednesday that a 25% tariff on imported cars will be implemented starting April 2, aimed at promoting the return of the automotive manufacturing industry to the U.S. The automotive tariffs are expected to generate up to $100 billion in additional revenue for the U.S. annually. Under the pressure of Trump's tariffs, the four major U.S. stock indices experienced significant declines, with automotive stocks becoming the center of selling pressure. (Previous context: JPMorgan: The risks of Trump's tariff war are becoming clearer, it's time to 'stop selling on the highs' of U.S. stocks) (Background supplement: Fed's Bostic: Only one rate cut is expected this year; the tariff war hinders the effectiveness of inflation control, and Trump is again pressuring Powell to cut rates) Trump announced on Wednesday that a 25% tariff will be imposed on imported cars and light trucks not manufactured in the U.S., effective April 2, with enforcement beginning April 3. This move expands Trump's trade war aimed at promoting U.S. manufacturing and paves the way for larger retaliatory tariffs next week. The White House pointed out that the automotive tariffs will apply not only to complete vehicles but also to essential parts, including engines, transmissions, power system components, and electrical components, and may expand in scope in the future. Trump called these tariffs 'permanent' measures and emphasized that he does not intend to negotiate exceptions. The White House stated that under the USMCA (U.S.-Mexico-Canada Agreement) negotiated during Trump's term, importers who can prove that a certain percentage of their products contain U.S. content will only be subject to the 25% tariff on the non-U.S. sourced portion. The White House added that these new tariffs will be in addition to existing tariffs, potentially generating up to $100 billion in additional revenue for the U.S. annually. Meanwhile, Trump is preparing to introduce reciprocal tariffs on April 2, possibly setting tax rates based on countries. Trump hinted that certain trading partners may receive reductions or exemptions, but he also threatened to impose more tariffs on other industries, such as lumber, semiconductors, and pharmaceuticals: 'This will be America's true liberation day, right on April 2, and I am very much looking forward to it.' Jennifer Safavian, president of the trade organization representing foreign car manufacturers, Autos Drive America, warned that the automotive tariffs will increase the costs of producing and selling cars in the U.S., ultimately leading to higher prices, fewer consumer choices, and a reduction in manufacturing job opportunities in the U.S. The total value of U.S. imports of cars and light trucks exceeded $240 billion last year, and analysts suggest that these new tariffs could lead to price increases of thousands of dollars per new car. A study shows that if tariffs are imposed on Canada, Mexico, and China, the production cost of a crossover SUV will increase by about $4,000, while an American-made electric vehicle could see a price increase of up to $12,000. U.S. stocks fell across the board, with automotive stocks becoming the center of selling pressure as the four major U.S. indices declined: The Dow Jones Industrial Average fell by 132.71 points or 0.31%, closing at 42,454.79 points. The Nasdaq index fell by 372.84 points or 2.04%, closing at 17,899.01 points. The S&P 500 index fell by 64.45 points or 1.12%, closing at 5,712.20 points. The Philadelphia Semiconductor Index fell by 152.59 points or 3.27%, closing at 4,508.74 points. Automotive stocks were heavily pressured, with U.S. auto giant General Motors down 3.12%, multinational auto giant Stellantis down 3.55%, and electric vehicle giant Tesla down 5.58%. Asian automotive stocks also opened sharply lower today, with Toyota's stock price falling by as much as 4%, Honda down 3.1%, Nissan down 3.5%, and Mazda dropping over 5%, while South Korea's Hyundai fell by as much as 3.2% and Kia down 2.7%. Bitcoin surprisingly remained strong Despite also being affected by the decline, Bitcoin unexpectedly held steady, bouncing back above $87,000. Related reports Bitcoin breaks $88,000) Trump hints at reductions for reciprocal tariffs, potentially excluding cars and semiconductors... U.S. stocks rise together with Tesla soaring 12% Trump’s April 2 reciprocal tariffs may be more targeted 'and effective immediately'; can Taiwan escape a disaster? The weekly report from the blockchain community) U.S. interest rates remain unchanged, Trump's tariffs, Binance promotes meme coins 'Trump imposes 25% tariff on non-U.S. manufactured cars! U.S. stocks plummet, but Bitcoin unexpectedly stands strong' This article was first published in BlockTempo (the most influential blockchain news media).