The imposing of additional 25% tariffs on car imports in the United States could lead to a 2% reduction in global car production this year compared to last year. These calculations are cited by the leading Japanese financial newspaper, Nikkei, adding that as a result, 1.55 million fewer cars will be manufactured worldwide.

According to the aforesaid newspaper, car production in the European Union this year could decrease by 3%, in South Korea and Japan—by 2%, and in North America—by 9%.

To date, about 16 million cars were sold annually in the US. It is the second largest auto market after China. Also, as Nikkei notes, approximately 50% of new cars sold in the United States are imported products.