The Wall Street Journal reported that the president told automakers at an event earlier this month that he would look “unfavorably” on any price increases after his tariffs, causing automakers to fear retribution unless they just grin and bear the incoming cost increases. He also told them that they should be happy and thankful for him ridding them of Biden’s electric vehicle mandate, and that the tariffs would actually just be “great.”
This is a huge contradiction. The president claims he’s trying to lower inflation and reinvigorate the domestic manufacturing industry while simultaneously making everything more expensive. Trump’s new 25 percent automobile tariffs will go into effect on April 2. Almost half of all passenger cars in the U.S. are manufactured outside of our borders in places like Mexico and Japan. Carmakers already have begun to stockpile new, completed cars to try to offset the tariffs until May.
It’s unclear how the Trump administration will punish car companies that do indeed raise prices—something they’ve been forced into doing by Trump himself.
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