President Trump said that “prices are the greatest thing ever invented”. For someone called a “price”, prices are the solutions to many economic problems.
He argued that tariff taxation would protect American factories, stimulate manufacturing, create new jobs and comply with unclocked governments to its will. Since its inauguration, while imposing and then suspending and then imposing prices again, Trump has turned the global trade system upset.
But during this period, Trump also began to concede that prices could cause financial discomfort to Americans. This possibility appeared in brutal terms in an interview with “Meet the Press” by NBC on Saturday when Mr. Trump said that he “does not care” about the prices of the higher car.
The president repeated the feeling twice when asked about the 25% prices on imported cars and the automotive parts which, according to him, come into force on Thursday. He told NBC News host Kristen Welker that the prices were permanent and that he would encourage car companies and their suppliers to move to the United States.
In an exchange, Ms. Welker asked Mr. Trump if he was at all concerned about the effect of prices on cars, which, according to experts, could increase by thousands of dollars. “No, I don’t care,” he said, “because if the prices of foreign cars increase, they will buy American cars.”
After the interview, an assistant from the president told NBC that Trump was referring to the increase in foreign cars prices.
While the White House has sought to focus on vehicles made abroad, prices will affect American companies like Ford Motor and General Motors, which build many of their vehicles in Canada and Mexico. According to S&P Global Mobility, almost half of the vehicles sold in the United States are imported, and almost 60% of car parts in cars assembled in the country.
A study of the Yale Budget LAB, a non -partisan research center, provides that prices would result in an increase in vehicle prices on average of 13.5% – an additional $ 6,400 at the price of a new average car 2024.
Shawn Fain, president of the United Automobile Workers Union on Sunday, said the prices was indeed a “motivator” for car manufacturers to bring jobs to the United States. But, he said on “Face The Nation” of CBS, they were not a “final solution” to help American car workers. If jobs are brought back to the United States, Fain said they must be “well-paid union jobs that establish standards”.
Peter Navarro, Trump’s principal commercial advisor, defended the prices and said they would collect about $ 100 billion, which would result in tax credits for people who buy American cars. He too told Americans not to worry about the effects of prices.
Instead, he said on Sunday, they should “trust Trump”.
