Trump Shrugs Off Concerns Over Price Hikes by Foreign Automakers Due to Tariffs
“If you manufacture your car in the United States, you’re set to profit significantly,” he mentioned.
On March 29, President Donald Trump stated that he had not instructed automotive CEOs to refrain from raising prices in light of extensive tariffs and expressed that he “couldn’t care less” if they choose to increase prices on vehicles produced abroad.
The Trump administration is preparing to impose a 25 percent tariff on all foreign-made automobiles and parts starting April 2, with temporary exemptions for companies importing vehicles or components under the United States-Mexico-Canada Agreement (USMCA) until a process for applying those tariffs is established, according to the White House.
“The message is simple: congratulations, if you manufacture your car in the United States, you will be quite profitable. If not, you might have to consider coming to the United States, because if you produce your car here, there’s no tariff,” Trump indicated, adding that he never advised them against raising prices.
“No, I never mentioned that. I couldn’t care less if they increase prices, because consumers are going to start choosing American-made vehicles,” he stated. “I couldn’t care less. I actually hope they raise their prices, because when they do, people will prefer American-made cars. We have plenty of them.”
The president reiterated that he wasn’t worried about the potential rise in car prices.
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“No, I couldn’t care less, because if foreign car prices increase, consumers will turn to American-made vehicles,” Trump remarked.
After the interview, one of the president’s aides clarified to NBC that Trump was specifically addressing the increase in prices of foreign vehicles. The Epoch Times has sought a complete transcript of the conversation from NBC.
Trump also asserted that the 25 percent tariffs on foreign automobiles and parts would be permanent.
“Absolutely, they will be permanent, no doubt. The world has been taking advantage of the United States for over 40 years. All we’re doing is ensuring fairness, and honestly, I’m being very generous,” he expressed.
Scheduled to commence on April 2, which he has termed “Liberation Day,” the tariffs will also impact various other consumer products. Trump indicated on Saturday that he prefers not to postpone the implementation of these tariffs further, but would consider negotiations “only if people are willing to offer us something of substantial value. Because nations have significant assets, otherwise, there’s no scope for negotiation.”
The Trump administration has stated that the objective of these tariffs is to bolster American manufacturing and to rectify the country’s trade deficit on a global scale.
