Donald Trump says he does not care if car prices go up after his new 25% tax on cars made outside America. He told NBC News that higher prices for foreign cars would push people to buy American-made vehicles instead. Trump believes America makes plenty of cars already. His taxes on imported cars start April 2, with charges hitting businesses the next day. Taxes on car parts come later in May.
Trump told car company leaders they should feel happy about his plan. He said companies making cars in America will earn lots of money. Those who don't build here might need to move their factories. Recent polls from CBS News say 72% of Americans think prices will rise because of these taxes. Over half say Trump isn't focusing enough on making things cheaper for regular people.
When asked about these worries, Trump advisor Peter Navarro told Fox News viewers they should trust the president. He claimed earlier taxes on Chinese goods created "prosperity and price stability." Navarro thinks foreign companies will pay most of these costs, not Americans. He said they must do this because America has the biggest market worldwide.
United Auto Workers leader Shawn Fain attacked Trump's worker and immigration policies but agreed that taxes help bring factory jobs back to America. Fain said many companies told him directly they would move production to the US if these taxes happen. Trump briefly stopped these car taxes in early March after big car makers like Ford begged him to wait.
Trump will not delay any longer unless countries offer something valuable in return. He also threatened Russia with extra taxes between 25% and 50% on its oil exports if Putin blocks peace talks with Ukraine. Trump plans to speak with Putin this week about ending the fighting. He claims they have a good relationship but warned Putin must "do the right thing."
The British government says it might fight back against these American taxes. They want special treatment since Britain trades fairly with America. Prime Minister Keir Starmer doesn't want a trade war but won't sit back if needed. Germany says Europe "will not give in" and must "respond firmly" to Trump's plan.
France called these taxes a waste of time, Canada saw them as a "direct attack" on its economy, and China accused America of breaking international trade rules with these actions. Many experts worry these taxes will harm relationships between America and its main trading partners around the world.
Trump told car company leaders they should feel happy about his plan. He said companies making cars in America will earn lots of money. Those who don't build here might need to move their factories. Recent polls from CBS News say 72% of Americans think prices will rise because of these taxes. Over half say Trump isn't focusing enough on making things cheaper for regular people.
When asked about these worries, Trump advisor Peter Navarro told Fox News viewers they should trust the president. He claimed earlier taxes on Chinese goods created "prosperity and price stability." Navarro thinks foreign companies will pay most of these costs, not Americans. He said they must do this because America has the biggest market worldwide.
United Auto Workers leader Shawn Fain attacked Trump's worker and immigration policies but agreed that taxes help bring factory jobs back to America. Fain said many companies told him directly they would move production to the US if these taxes happen. Trump briefly stopped these car taxes in early March after big car makers like Ford begged him to wait.
Trump will not delay any longer unless countries offer something valuable in return. He also threatened Russia with extra taxes between 25% and 50% on its oil exports if Putin blocks peace talks with Ukraine. Trump plans to speak with Putin this week about ending the fighting. He claims they have a good relationship but warned Putin must "do the right thing."
The British government says it might fight back against these American taxes. They want special treatment since Britain trades fairly with America. Prime Minister Keir Starmer doesn't want a trade war but won't sit back if needed. Germany says Europe "will not give in" and must "respond firmly" to Trump's plan.
France called these taxes a waste of time, Canada saw them as a "direct attack" on its economy, and China accused America of breaking international trade rules with these actions. Many experts worry these taxes will harm relationships between America and its main trading partners around the world.
