President Donald Trump said he “does not care” if international automakers have tariffs on all foreign-made auto parts and tariffs on imported vehicles announced a few days ago.
The move was condemned by foreign automakers and leaders and led to stock declines in companies such as General Motors and Ford, according to the Associated Press – escalating tensions amid an imminent trade war. “It is crucial that the way tariffs are implemented is critical to avoid increasing consumer prices and retaining the competitiveness of the integrated North American automotive sector,” the U.S. Automotive Policy Committee, which represents domestic automakers, said in a statement.
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“The message is congratulations, if you drive in the U.S., you will make a lot of money. If you don't, you will have to come to the U.S. because if you make a car in the U.S., there will be no taxes.”
Asked if he summoned the U.S. auto industry CEO to tell them not to raise prices because Wall Street Journal “No, I never said that. I don't care if they will raise prices because people will start buying American-made cars. I don't care. I want them to raise prices because if they do, people will buy American-made cars. We have a lot. We have a lot. ”
He concluded: “No, I don't care, because if the price of foreign cars goes up, they will buy American cars.”
As mentioned earlier, domestically assembled foreign auto parts will still see a 25% tax. The White House said companies that import vehicles under the U.S.-Mexico-Canada Agreement (USMCA) (the free trade agreement established during the first period of Trump) will remain tax-free until the government establishes tax procedures.
When questioned whether there is a “negotiation room” for the expected April 2 tariffs, Trump replied: “Only when people are willing to give us some great value, because the country has great value, otherwise, there is no room for negotiation.”
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