- President Trump said he “couldn’t care less” if automakers increase prices in response to his tariffs.
- He believes a price increase on imported models will get people to buy American-made cars.
- The tariffs are slated to go into effect on April 2 and popular vehicles could cost thousands more.
On inauguration day, the second Trump administration proclaimed President Biden’s “destructive policies inflicted an historic inflation crisis on the American people.” Fast forward two months and Trump’s tariffs could cause prices on popular vehicles to climb by more than $16,000.
That’s a staggering amount and Trump “couldn’t care less.” Speaking to NBC News, the President said “I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.”
More: These Popular Cars Could See Prices Skyrocket By Up To $16,000 After Tariffs
Trump went on to say his message to automakers is “Congratulations, if you make your car in the United States, you’re going to make a lot of money. If you don’t, you’re going to have to probably come to the United States, because if you make your car in the United States, there is no tariff.”
Of course, vehicles made in the United States use foreign parts and these are slated to get hit by a 25% tariff as well. This means prices will likely rise across the board, regardless of whether or not vehicles are produced domestically or internationally.
The impact remains to be seen, but tariffs are paid by companies and not foreign governments as the administration has claimed. These firms typically pass on the added cost to consumers, although they might absorb some of the impact to salvage sales.
Trump also implied this won’t be a temporary move as he said the tariffs will be permanent. He went on to claim, “The world has been ripping off the United States for the last 40 years and more. And all we’re doing is being fair, and frankly, I’m being very generous.”
