Politics

/

ArcaMax

Trump says he hopes new tariffs send buyers to American cars

Wendy Benjaminson, Bloomberg News on

Published in Political News

President Donald Trump said he expects consumers to migrate to U.S.-made cars if automakers raise prices in response to the 25% tariffs on all imported vehicles and parts that he has vowed to impose.

“I couldn’t care less if they raise prices because people are going to start buying American cars,” Trump said in an interview with NBC News on Saturday.

Trump was asked whether he warned automaker chief executives not to raise consumer prices in response to the 25% tariffs he plans to impose on some of their products next week.

“No, I never said that,” Trump said. “I hope they raise their prices, because if they do, people are going to buy American-made cars,” he said.

Trump trade adviser Peter Navarro said on "Fox News Sunday" that the tariffs due to start this week would raise $100 billion, while the total tariffs packages would raise another $600 billion.

“It’s the biggest tax cut in American history for the middle class, for the blue-collar deplorables,” he said, making a reference to a term former Democratic presidential nominee Hillary Clinton used to describe some Trump supporters in 2016.

Navarro also predicted that the tariffs wouldn’t mean higher prices. “The reason why we’re not going to see inflation is because the foreigners are going to eat most of it.”

GM imports some Chevrolet Silverado pickup trucks from plants in Mexico and Canada and the entry-level Chevy Trax compact SUV from South Korea. The Chevrolet Equinox crossover SUV is also imported. Last year GM sold more than 200,000 each of the Equinox and Trax, which are among its cheapest vehicles. The automaker also makes electric versions of the Equinox and Blazer in Mexico.

Americans are beginning to show some concern about Trump’s focus on tariffs over lowering consumer prices. A CBS-YouGov poll released Sunday showed that almost two-thirds, or 64%, of Americans believe Trump isn’t spending enough time on lower prices and more than half, 55%, say he’s spending too much time on imposing tariffs.

 

Kevin Hassett, director of the National Economic Council, said Sunday that any short-term pain would dissipate.

“Think ahead to a year or two from now, now that we have those auto tariffs, how many cars are going to be made in the U.S. by U.S. firms with U.S. workers? It’s going to be a boom,” Hassett said on Fox News’ "Sunday Morning Futures."

Starting next week, the new 25% tariffs will apply to all imported passenger vehicles and light trucks, as well as to key parts like engines, transmissions and electrical components, on top of any duties already in effect. The levies will only apply to the non-U.S. share of vehicles and parts imported under a free-trade agreement with Canada and Mexico.

Auto prices are broadly expected to increase by thousands of dollars, with JPMorgan & Chase Co. analysts estimating prices will jump 11% on average.

_____

(With assistance from David Welch, Gabrielle Coppola, Josh Wingrove and Jonnelle Marte.)

_____


©2025 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

 

Comments

blog comments powered by Disqus

 

Related Channels

ACLU

ACLU

By The ACLU
Amy Goodman

Amy Goodman

By Amy Goodman
Armstrong Williams

Armstrong Williams

By Armstrong Williams
Austin Bay

Austin Bay

By Austin Bay
Ben Shapiro

Ben Shapiro

By Ben Shapiro
Betsy McCaughey

Betsy McCaughey

By Betsy McCaughey
Bill Press

Bill Press

By Bill Press
Bonnie Jean Feldkamp

Bonnie Jean Feldkamp

By Bonnie Jean Feldkamp
Cal Thomas

Cal Thomas

By Cal Thomas
Christine Flowers

Christine Flowers

By Christine Flowers
Clarence Page

Clarence Page

By Clarence Page
Danny Tyree

Danny Tyree

By Danny Tyree
David Harsanyi

David Harsanyi

By David Harsanyi
Debra Saunders

Debra Saunders

By Debra Saunders
Dennis Prager

Dennis Prager

By Dennis Prager
Dick Polman

Dick Polman

By Dick Polman
Erick Erickson

Erick Erickson

By Erick Erickson
Froma Harrop

Froma Harrop

By Froma Harrop
Jacob Sullum

Jacob Sullum

By Jacob Sullum
Jamie Stiehm

Jamie Stiehm

By Jamie Stiehm
Jeff Robbins

Jeff Robbins

By Jeff Robbins
Jessica Johnson

Jessica Johnson

By Jessica Johnson
Jim Hightower

Jim Hightower

By Jim Hightower
Joe Conason

Joe Conason

By Joe Conason
Joe Guzzardi

Joe Guzzardi

By Joe Guzzardi
John Micek

John Micek

By John Micek
John Stossel

John Stossel

By John Stossel
Josh Hammer

Josh Hammer

By Josh Hammer
Judge Andrew Napolitano

Judge Andrew Napolitano

By Judge Andrew P. Napolitano
Laura Hollis

Laura Hollis

By Laura Hollis
Marc Munroe Dion

Marc Munroe Dion

By Marc Munroe Dion
Michael Barone

Michael Barone

By Michael Barone
Michael Reagan

Michael Reagan

By Michael Reagan
Mona Charen

Mona Charen

By Mona Charen
Oliver North and David L. Goetsch

Oliver North and David L. Goetsch

By Oliver North and David L. Goetsch
R. Emmett Tyrrell

R. Emmett Tyrrell

By R. Emmett Tyrrell
Rachel Marsden

Rachel Marsden

By Rachel Marsden
Rich Lowry

Rich Lowry

By Rich Lowry
Robert B. Reich

Robert B. Reich

By Robert B. Reich
Ruben Navarrett Jr

Ruben Navarrett Jr

By Ruben Navarrett Jr.
Ruth Marcus

Ruth Marcus

By Ruth Marcus
S.E. Cupp

S.E. Cupp

By S.E. Cupp
Salena Zito

Salena Zito

By Salena Zito
Star Parker

Star Parker

By Star Parker
Stephen Moore

Stephen Moore

By Stephen Moore
Susan Estrich

Susan Estrich

By Susan Estrich
Ted Rall

Ted Rall

By Ted Rall
Terence P. Jeffrey

Terence P. Jeffrey

By Terence P. Jeffrey
Tim Graham

Tim Graham

By Tim Graham
Tom Purcell

Tom Purcell

By Tom Purcell
Veronique de Rugy

Veronique de Rugy

By Veronique de Rugy
Victor Joecks

Victor Joecks

By Victor Joecks
Wayne Allyn Root

Wayne Allyn Root

By Wayne Allyn Root

Comics

Andy Marlette Mike Beckom Al Goodwyn Darrin Bell Clay Bennett David Fitzsimmons