Trump announced a 25% tariff on all imported cars. SHFE tin prices hovered at highs during the night session. [SMM Tin Morning Brief]

Trump announced a 25% tariff on all imported cars. During the night session, SHFE tin prices hovered at highs. On March 26, US President Trump issued a statement announcing a 25% tariff on all imported cars. The tariff will take effect on April 2. Trump stated that the car tariff would be permanent. He mentioned that if cars are manufactured in the US, they would be exempt from the tariff. Trump added that if components are produced in the US but the complete vehicle is not, these components would not be subject to the tariff. Trump also stated that the US would impose tariffs on lumber and pharmaceuticals. US officials indicated that the tariffs are expected to generate over $100 billion in additional annual revenue. The 25% car tariff is imposed on top of the existing tariffs, which are generally 2.5%. The Premier of Ontario, Canada, expressed support for retaliatory tariffs against the US. European Commission President von der Leyen expressed regret over the US car tariffs and stated that the EU would assess this move and other US actions in the coming days, seeking to resolve the issue through negotiations. During the night session, SHFE tin prices fluctuated upward, with overall market sentiment remaining bullish. The price center stabilized around 280,000 yuan/mt. In the spot tin ingot market, yesterday's trading remained sluggish, with most traders reporting scattered transactions, and a few traders completing around one truckload of deals. Downstream and end-user companies showed low purchasing willingness, with overall order demand remaining weak.