Luke Vargas

And as economics editor Paul Hannan told us, lower borrowing costs are a boon for businesses and consumers in particular.

And as economics editor Paul Hannan told us, lower borrowing costs are a boon for businesses and consumers in particular.

And that's it for What's News for this Friday morning. Today's show was produced by Daniel Bach with supervising producer Sandra Kilhoff. And I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Otherwise, have a great weekend and thanks for listening.

And that's it for What's News for this Friday morning. Today's show was produced by Daniel Bach with supervising producer Sandra Kilhoff. And I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Otherwise, have a great weekend and thanks for listening.

President Trump makes good on his pledge to penalize foreign carmakers, announcing plans for 25 percent tariffs on global imports. Plus, European leaders move to build a Ukraine support force without the U.S. And the used phone market takes off.

President Trump makes good on his pledge to penalize foreign carmakers, announcing plans for 25 percent tariffs on global imports. Plus, European leaders move to build a Ukraine support force without the U.S. And the used phone market takes off.

It's Thursday, March 27th. I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. global reaction is pouring in after President Trump yesterday evening announced that the U.S. would impose 25 percent tariffs on all automotive imports starting April 3rd.

It's Thursday, March 27th. I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. global reaction is pouring in after President Trump yesterday evening announced that the U.S. would impose 25 percent tariffs on all automotive imports starting April 3rd.

The announcement appeared to dispel any chance of an exemption for countries like Mexico and Canada, which have a free trade agreement with the U.S. and would be added on top of 25 percent tariffs on goods from those countries that Trump had already imposed.

The announcement appeared to dispel any chance of an exemption for countries like Mexico and Canada, which have a free trade agreement with the U.S. and would be added on top of 25 percent tariffs on goods from those countries that Trump had already imposed.

Canadian Prime Minister Mark Carney was quick to respond, invoking the interests of the country's unionized auto workers and its bilateral trade with the U.S.

Canadian Prime Minister Mark Carney was quick to respond, invoking the interests of the country's unionized auto workers and its bilateral trade with the U.S.

Carney pledged to respond to the U.S. tariffs, but said he'd first wait to see the details of Trump's executive order. The province of Ontario is home to the bulk of Canada's auto industry, and its premier said yesterday that car plants on both sides of the border would shut if Trump's plans went ahead. Meanwhile, we've yet to hear a response from Mexico, the biggest auto exporter to the U.S.

Carney pledged to respond to the U.S. tariffs, but said he'd first wait to see the details of Trump's executive order. The province of Ontario is home to the bulk of Canada's auto industry, and its premier said yesterday that car plants on both sides of the border would shut if Trump's plans went ahead. Meanwhile, we've yet to hear a response from Mexico, the biggest auto exporter to the U.S.

The country sends a number of popular vehicles north of the border, including GM, Ram, and Toyota pickups, luxury models from BMW and Audi, and affordable sedans from Nissan, though industry officials are warning that the tariffs could trigger price hikes that put vehicles further out of reach for Americans after sizable cost increases since the pandemic. Glenn Stevens Jr.

The country sends a number of popular vehicles north of the border, including GM, Ram, and Toyota pickups, luxury models from BMW and Audi, and affordable sedans from Nissan, though industry officials are warning that the tariffs could trigger price hikes that put vehicles further out of reach for Americans after sizable cost increases since the pandemic. Glenn Stevens Jr.

is the executive director of Misch Auto, a business group that represents Michigan's auto sector.

is the executive director of Misch Auto, a business group that represents Michigan's auto sector.

So what reaction are we seeing from automakers beyond North America and how are major players in the industry responding? For more, I'm joined by Journal European Autos reporter Stephen Wilmot. Stephen, first, what has the broad reaction been to this from a sector that has very much been in Trump's crosshairs since even before he took office?

So what reaction are we seeing from automakers beyond North America and how are major players in the industry responding? For more, I'm joined by Journal European Autos reporter Stephen Wilmot. Stephen, first, what has the broad reaction been to this from a sector that has very much been in Trump's crosshairs since even before he took office?