Trump Says He May Raise Tariffs on Automakers

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Transcript

00:00To further defend our autoworkers, I imposed this 25% tariff on all foreign automobiles

00:08and investment in American manufacturing and auto manufacturing.

00:11All manufacturing is surging.

00:15And I might go up with that tariff in the not-too-distant future.

00:18The higher you go, the more likely it is they build a plant here.

00:22Ford has just announced that it's going to invest $500 million in some of the things

00:27involved in what we just did.

00:29General Motors is going to spend $4 billion.

00:31They just announced that yesterday.

00:33Stellantis announced that it's going to reopen its Belvedere assembly plant.

00:38That's good.

00:39I know the plant very well, had a lot of problems.

00:43They're going to spend $5 billion.

00:46And Hyundai announced that it will invest $21 billion in America.

00:51They wouldn't have invested 10 cents if we didn't have tariffs.