Donald Trump dismissed allegations that he pressured auto CEOs to keep costs down amid rising tariffs, instead emphasizing that his trade policies were designed to boost American manufacturing.
“I couldn’t care less if they raise prices,” Trump told NBC News. “People are going to start buying American-made cars. We have plenty.”
His remarks followed the announcement of a 25 percent tariff on foreign-made cars and auto parts, set to take effect on April 2nd. The policy is expected to hit Germany, Japan, and South Korea particularly hard, as their auto industries rely heavily on U.S. imports.
Trump insisted the tariffs would remain in place permanently, arguing that the U.S. had been exploited for decades. “The world has been ripping off the United States for the last 40 years and more,” he said. “All we’re doing is being fair, and frankly, I’m being very generous.”
Economists warn that the tariffs could significantly increase consumer costs, with imported car prices potentially rising by $12,500 on average, according to the Associated Press. Some lawmakers have expressed concern about the impact on inflation and the broader economy.
Despite pushback, Trump is confident the move will drive automakers to shift production to the U.S. “For the most part, I think it’s going to lead cars to be made in one location,” he said from the Oval Office.
While the stock market dipped in response, companies like Apple, Honda, and Hyundai have since announced major investments in their American operations.
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