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Trump says he 'couldn't care less' if car prices rise in the US
Tags: Current Focus, Renewal America, United States, Germany, European Union, China, Japan, South Korea, Automobiles, The Economy, Movement for Renewal of America, 2. Cost of Living Action, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 10. Health- Body/Mind Wellbeing for All ,
DJT economic adviser Peter Navarro says German and South Korean companies will be the one's that will have to raise prices as these companies VW, BMW and Benz, Hyundai and Kia, make most of their cars imported to the US in Mexican or German plants. American companies make 60 to 80% of their cars in the US already and will shift production here with little or no increase in prices. US International Trade Commission did a study in 2024 about a 25% import tariff and it shows a 5% increase. WSJ shows other studies at 10% but this includes prices of luxury brands that are less sensitive to price changes such as BMW, Benz and Audi cars.
"The reason why we will not see inflation is because foreigners are going to eat most of it, they have to," he said, adding that the US "is the biggest market in the world." - Peter Navarro
DJT US 25% auto import tariff April 2, 2025
03/30/2025
The impact of the 25% DJT US auto import tariff comes after NAFTA and USMCA Trade Treaty did little to prevent the outshoring of US jobs and manufacturing to Mexico and Canada. German and South Korean companies made about 80% to 60% of cars sold in the US in Mexico or in their home country. The outshoring was used by American and foreign companies as a way to keep American automobile wages low as American companies could threaten workers asking for higher wages with loss of jobs by outshoring the production. This happened for two decades under the elder Clinton, Bush and Obama administrations. The US International Trade Commission estimates in a 2024 study that this 25% tariff would increase revenues by 5% and prices by 5% in the US for cars. Higher prices over 10% would be borne by affluent buyers of BMW's, Benz and Audis. Because US auto plants have excess capacity and operate at 60% in 2025 they could quickly increase American production without increasing prices as American manufacturers car sales increase. Hyundai plans to invest $21 billion in US plants from 2025. UAW union supports this move by DJT and trade advisers Lighthizer, Jamieson USTR, and Navarro.
Grouped Articles
Trump says he 'couldn't care less' if car prices rise in the US
BBC News 03/30/2025
Transcript: UAW president Shawn Fain on "Face the Nation with Margaret Brennan," March 30, 2025
03/30/2025
How Trump’s Tariffs Are Hitting Big Car Producers, in Charts
WSJ 03/27/2025
Trump Warned U.S. Automakers Not to Raise Prices in Response to Tariffs
WSJ 03/28/2025
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