Donald Trump has stated that he “couldn’t care less” if carmakers raise prices following his 25% tariffs on foreign-made vehicles. The tariffs, set to take effect on April 2, have sparked concerns among analysts, who warn of potential shutdowns, price hikes, and strained relations with allies.
Trump hopes that foreign carmakers will raise prices, believing it will encourage people to buy American-made cars. He announced the tariffs on Wednesday, with charges on businesses importing vehicles expected on April 3 and taxes on parts starting in May or later.
The UK, Germany, France, Canada, and China have expressed discontent with Trump’s tariffs, with some vowing to retaliate. The UK is currently in last-minute negotiations with the White House, seeking an exemption.