Targeting Europe and Mexico, Trump threatens to impose comprehensive tariffs on imported cars
During his speech at the Economic Club of Chicago, Trump threatened to impose high tariffs on imported cars from Europe and Mexico, up to 2000%. He stated that this move aims to force production back to the United States and criticized the existing car production model for being unfair to American workers. Economists warned that this could trigger a new inflation spiral, increasing consumer living costs. Trump also mentioned not intervening in the Federal Reserve's monetary policy, but believed that the president should have the right to discuss interest rate issues
On Tuesday local time, US Republican presidential candidate Donald Trump stated in a speech at the Chicago Economic Club that if he is re-elected, he will impose high tariffs on imported cars, including those from Europe and Mexico, to strengthen America's trade protection policies.
During the speech, Trump specifically criticized European car manufacturers, promising to impose heavy taxes on these imported vehicles to force production back to the US.
Trump also threatened to impose tariffs of up to 2000% on cars from Mexico to prevent Mexican cars from entering the US market.
"If I become president, I will impose tariffs of 100%, 200%, 2000% on cars from Mexico. They will not sell a car to the US."
Trump pointed out that Mercedes-Benz's production activities in the US are merely assembly work, which he believes is unfair to American workers:
"They make everything in Germany, then they assemble here. They get away with murder."
The United Auto Workers (UAW) responded to this on X platform:
"Trump is a scoundrel."
Trump's tariff plan has raised concerns among economists, who warn that such policies could lead to a new inflation spiral in the US, increasing the cost of living for ordinary consumers.
Furthermore, Trump also stated that if he is re-elected, he will not interfere with the Federal Reserve's monetary policy, but believes that the president should have the right to discuss interest rates. He also made sarcastic remarks about Federal Reserve Chairman Powell's role:
"I think it's the greatest job in government. You go in every month, you make a speech, let's toss a coin, and then everyone talks about you like you're a god."
During the speech, Trump was also asked if he supports breaking up Google, to which he responded that Google has too much power, but his main dissatisfaction is that Google does not show enough positive news about him