00:00And in other news, U.S. President Donald Trump on Wednesday announced a 25 percent tariff
00:05on imports of vehicles and car parts.
00:07The tariffs will take effect on April 3rd, impacting foreign-made cars and light trucks.
00:13Key automobile parts will also be affected within the month.
00:16However, major car exporter Germany called for a firm response from the European Union,
00:21while Japan said it would consider all options.
00:24Markets across Asia and Europe tumbled, with auto manufacturers from Toyota to Hyundai
00:30and Mercedes leading the decline.
00:32France condemned the move as hostile.
00:35Meanwhile, Canada's Prime Minister Mark Carney announced he had convened a meeting on Thursday
00:40to discuss trade options.
00:42In a statement, the Association of American Automakers warned that the tariffs must be
00:47implemented in a way that avoids raising prices for consumers and preserves the industry's
00:52competitiveness.
