Trump vows to protect US cars with tariffs but all-American cars don’t exist [Video]

President-elect Donald Trump is vowing to protect American-made cars through steep tariffs on imports. The problem is, there is no such thing as an all-American car.Related video above: President-elect Donald Trump is threatening new tariffs on products from Mexico, Canada and ChinaTrump has promised that tariffs, which are a tax on goods that are imported from another country, will be a key part of his economic plan in his second term. On Monday, he announced plans to impose a 25% tariff on all goods coming from Mexico or Canada on his first day in office.The U.S. government tracks what percentage of each car’s parts is made “domestically.” But under current trade law, both Canadian-made parts and U.S.-made parts are counted as the same domestic content. Even with the broader definition of “American made,” none exceed 75%.That’s why auto prices could rise sharply if Trump goes ahead with plans to impose …