Trump expresses indifference regarding potential price hikes on cars
(MENAFN) US President Donald Trump has expressed indifference regarding potential price hikes on cars due to new tariffs set to take effect this week. The 25% tariff, which targets imported cars and auto parts from countries like Mexico, Canada, South Korea, Japan, and Germany, will begin on April 3. While experts warn that the tariffs will lead to higher car prices, Trump stated he "couldn't care less," emphasizing that Americans will simply buy domestic cars if foreign car prices increase.
Trump suggested the new tariffs could generate between $600 billion and $1 trillion in revenue over the next two years, labeling the move as “Liberation Day” for the US. The tariffs, which also affect auto parts, will impact $192 billion worth of imports, particularly from key suppliers like Mexico, Canada, China, and Japan. The US imported $214 billion in passenger cars in 2024, with the majority coming from these countries.
While some foreign leaders, including Japan’s Prime Minister Shigeru Ishiba and Canadian Prime Minister Mark Carney, have criticized the tariffs and threatened retaliation, Trump’s administration has positioned the tariffs as a way to reclaim economic advantage, pointing to perceived unfair trade practices by the EU.
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