Trump Announces 25% Tariffs on Imported Vehicles

CGTN Europe

U.S. President Donald Trump announced plans to impose 25 percent tariffs on all imported vehicles and automotive components.   The tariffs aim to bolster domestic manufacturing but risk disrupting supply chains and raising consumer prices.  #TradeWarEscalation #AutoTariffsImpact #SupplyChainDisruption #Trumptarrifs #Cars

Transcript

00:00We're going to charge countries for doing business in our country and taking our jobs,

00:09taking our wealth, taking a lot of things that they've been taking over the years. They've taken

00:13so much out of our country, friend and foe. And frankly, friend has been oftentimes much worse

00:18than foe. And this is very modest. And what we're going to be doing is a 25 percent tariff on all

00:26cars that are not made in the United States. If they're made in the United States, it's

00:30absolutely no tariff. We start off with a two and a half percent base, which is what we were at.

00:35And we go to 25 percent. Plants are going up all over the United States, and many of them

00:40have already been started. We're getting early electricity taken care of. We're getting permits

00:47very quickly for them. And we're going to make their life very happy. They're coming in with

00:51tens of billions of dollars. Individual plants will cost 10, 15, 20 billion dollars. We're going

00:57to let them build electricity generating plants along with their plant. And they can't even

01:04believe it. And we're going to get a very quick permits.

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