The United States will impose a 25 per cent tariff on all automobile imports as of April 2.

President Donald Trump signed an executive order in the Oval Office on Wednesday afternoon.

Trump said the tariffs would remain in place for the rest of his term.

“I think our automobile business will flourish like it’s never flourished before,” the president told reporters.

The White House said the tariff will apply to passenger vehicles and light trucks, as well as key automobile parts.

Automobile parts that are compliant with the Canada-United States-Mexico Agreement will be exempt — at least for now.

More to come.