Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

President Trump has reversed course on most of his tariffs, but with more and more productions moving overseas, the industry has other problems.

All eyes are on the tariff announcements that U.S. President Donald Trump is expected to make at 4 p.m. EST on April 2, a day which he refers