U.S. President believes rising prices will prompt people to buy more U.S. products
- President Trump said he “don’t care” if automakers raise prices on his tariffs.
- He believes that the price increase of imported models will allow people to buy American-made cars.
- The tariff plan will come into effect on April 2, and popular vehicles could cost thousands of dollars.
On Inauguration Day, the second Trump administration announced that President Biden’s “destructive policies have caused a historic inflationary crisis for the American people.” Fast forward two months and Trump’s tariffs could cause the price of popular vehicles to climb by more than $16,000.
It’s an amazing number that Trump “doesn’t care.” “I hope they raise prices because if you do, people will buy American-made cars. We have a lot,” the president said in a speech by NBC News.
More: These popular cars could cost up to $16,000 after tariffs
Trump went on to say his message to the automaker was “Congratulations, if you make a car in the U.S., you’ll make a lot of money. If you don’t do that, you’ll have to come to the U.S. because if you make a car in the U.S., there’s no tax on it.”
Of course, vehicles made in the United States use external parts, which are also planned to be subject to a 25% tariff. This means that prices may rise across the board, whether the vehicle is produced domestically or internationally.
The impact remains to be seen, but the tariffs are paid by the companies claimed by the government rather than by foreign governments. These companies often bring additional costs to consumers, although they may absorb some of the impact on saving sales.
Trump also hinted that this would not be a temporary move, as he said the tariffs would be permanent. He went on to claim: “The world has been depriving the United States for the past 40 years. All we have to do is be fair and frankly, I’m very generous.”
Leave a Reply Cancel reply
You must be logged in to post a comment.