Groups lobbying for months to persuade the president that tariffs are the wrong approach have been largely ignored
The countries that would be most affected include China, US, Euro area and some major trade partners such as Taiwan, Canada, Korea, Mexico as well as some other smaller European economies
Auto manufacturing powers have been coordinating with each other lately about their fears and response to Trump's 'Section 232' investigation into whether auto imports are a threat to US security
In recent months, Donald Trump has increased tensions among traditional US partners and allied trading blocs such as the EU, Canada, and Mexico, with a focus on trade issues
The global commercial order is being shaken by Trump's use of a US trade-law provision on national security to justify steel and aluminium tariffs against a host of countries
Trump has imposed tariffs on steel and aluminum in response to what he calls unfair trade practices from Europe, Canada, and other allies around the world
Higher tariffs could also hike vehicle prices and reduce sales, says GM
The company said in a government filing on Monday that it may move some production outside the US in response to European retaliation for the president's tariffs on imported metals
The Trump administration announced tariffs on $34 billion of Chinese imports to take effect in three weeks with another $16 billion still to be reviewed
The EU has vowed to hit back at the US with tariffs on American goods, including iconic items such as Harley-Davidson motorbikes, blue jeans and bourbon whiskey
Voluntary export restraints by Europe could hand Trump an apparent victory, while benefiting EU's steel producers
Trump administration officials have said that in lieu of tariffs, steel and aluminum exporting countries would have to agree to quotas designed to achieve similar protections for US producers
On Wednesday, China unveiled a list of 106 US goods including soybeans, whiskey, frozen beef and aircraft targeted for tariffs
Trump said in a statement the further tariffs were being considered "in light of China's unfair retaliation" against earlier US trade actions that included $50 billion of tariffs on Chinese goods
GM's partners in China include SAIC Motor Corp., while Ford has tied up with Changan Automobile Group and holds a stake in Jiangling Motors Corp
The tariffs are meant to address two problems: intellectual property theft by China and a steep and persistent trade deficit
China is America's biggest external creditor with $1.17 trn in Treasuries as of Jan, or 19% of all foreign holdings of US govt securities
US negotiators will use the threat of tariffs to persuade China to abandon the policy of forcing US firms to part with technical knowhow
If selective tariffs are taken to the WTO, then there is a good chance that these will be declared to be not in keeping with the rules
Tariffs would not be limited to technology and telecommunications equipment