Trump talks about potential car prices hikes from tariffs: “I don't care less”

Read Time:1 Minute, 4 Second

Donald Trump dismissed the charges, accusing him of putting pressure on the auto chief executive to raise tariffs while stressing that his trade policy is designed to boost U.S. manufacturing. “I don't care if they raise the price,” Trump told NBC News. “People will start buying American-made cars. We have a lot.” His remarks announced a 25% tariff on foreign-made cars and auto parts, with sales going into effect April 2. The policy is expected to hit Germany, Japan and South Korea in particular, as their automotive industry relies heavily on U.S. imports. “For the past 40 years, the world has been depriving the United States of America,” he said. “All we have to do is fair, and frankly, I'm very generous.” Economists warn that tariffs could significantly increase consumer costs, with the average price of imported cars rising by $12,500. Some lawmakers have expressed concern about the impact on inflation and the broader economy. Still, Trump is confident that the move will prompt automakers to move production to the U.S. “In most cases, I think this will create cars in one location. Loading… Discover more from Baller Alertsubscribe for the latest posts sent to the email.

Source link