Trump’s Auto Tariffs, Threats on Allies Intensify Trade War

<p>Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. <br />Bloomberg News News Senior Reporter Jennifer Dlouhy discusses President Trump signing a proclamation to implement a 25% tariff on auto imports and pledged harsher punishment on the EU and Canada if they join forces against the US, expanding a trade war and triggering threats of retaliation.<br />&ldquo;What we&rsquo;re going to be doing is a 25% tariff on all cars that are not made in the United States,&rdquo; Trump said at the White House on Wednesday as he pushed ahead with a program seeking to bring more manufacturing jobs to the US.<br />Hours later, Trump suggested further tariffs would be imposed on the European Union and Canada if they worked together &ldquo;to do economic harm&rdquo; to the US. The reaction in currency markets including the euro and Canadian dollar was muted, and the S&amp;P 500 fluctuated to start the day Thursday.<br />Bloomberg Economics US Economist Stuart Paul explains what Trump&rsquo;s auto tariffs could mean for GDP and inflation. Katie Hubbard, EVP of Capital Markets for Walton Global, shares her thoughts on US housing data. Austin Walker, CEO of A. Walker &amp; Company, talks about the Trump administration&rsquo;s impact on affordable housing. And we Drive to the Close with Katie Nixon, CIO at Northern Trust Wealth Management. <br />Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. </p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>