Donald Trump speaks in the Oval Office below a portrait of Ronald Reagan.

Donald Trump has said he “couldn’t care less” if his tariffs push up the prices of foreign cars in America.

In comments which will increase fears of a global trade war, the US president also said the swingeing import taxes he is bringing in will be permanent.

Trump has said he plans to impose 25% tariffs on all foreign-built cars imported into the States from April 2.

The move is designed to boost the American car industry by reducing demand for foreign vehicles.

Britain currently sells more than £6 billion-worth of cars to the US, meaning the policy could have a major impact on the UK economy.

In addition, Trump wants to impose tariffs on steel imports and on all countries, like the UK, which charge VAT.

Chancellor Rachel Reeves has also been warned by the Office for Budget Responsibility........

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