London: The British carmaker Jaguar Land Rover announced Saturday suspension of all shipments of its cars to the US while it works out how to adjust to Donald Trump's tariffs. In a press statement, the carmaker said it will halt its shipments to the US for four weeks on Monday, following Donald Trump's introduction of a 25 percent tariff on all foreign cars imported to the US.
According to Kuwait News Agency, "The USA is an important market for JLR's luxury brands," a Jaguar Land Rover (JLR) spokesperson stated. "As we work to address the new trading terms with our business partners, we are taking some short-term actions including a shipment pause in April, as we develop our mid to longer-term plans."
JLR exports almost a quarter of its 400,000 annual sales to America. The move comes as stock markets have suffered their worst falls since the pandemic this week - following the president's 10 percent tariff on all imports - which took effect on Saturday.