25% Tariff on Imported Cars to Take Effect from Next Month
Trump Says, "Not Concerned About Possible Price Hikes"
Expects Americans to Buy Domestic Cars Instead
U.S. President Donald Trump stated that he is not concerned about the potential rise in car prices due to the 25% tariff on imported automobiles set to take effect from the 3rd of next month.
On the 27th, when U.S. President Donald Trump formalized the imposition of a 25% tariff on foreign-made cars, export vehicles were parked at Pyeongtaek Port in Gyeonggi Province. Photo by Yonhap News
According to NBC News on the 29th (local time), in an interview with the outlet, President Trump was asked if he was worried about car prices increasing because of the tariffs. He replied, "No. I do not care at all," adding, "Because if foreign car prices go up, people will buy American-made cars, which are not subject to the tariffs."
Earlier, on the 27th, President Trump announced that starting from the 3rd of next month, a 25% tariff would be imposed on all cars and major car parts produced abroad.
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