If you’re in the market for a new set of wheels, you could end up paying anywhere from $4,000 to $12,000 more once President Donald Trump’s tariffs take effect on Tuesday. And he doesn’t care if you’re unhappy about it.
Trump told NBC News that he “couldn’t care less” if his tariffs cause car manufacturers to raise their prices, going so far as to say, “I hope they raise their prices. Because if they do, people are gonna buy American-made cars.”
Automotive industry experts have warned that Trump’s tariffs, which have kicked off a global trade war, could increase car prices, with some prices set to soar by up to $12,000 per vehicle.
The tariffs, set to go as high as 25 percent, would result in vehicles like pickup trucks costing approximately $8,000 more, while electric vehicle prices could increase by as much as $12,000. Trump’s tariffs apply not just to foreign vehicles, but also to foreign auto parts, even if the vehicles that use them are assembled within the United States.
When asked what his message to motor industry CEOs worried about his new tariffs was, Trump responded, “The message is: Congratulations. If you make your car in the United States, you’re going to make a lot of money. If you don’t, you’re going to have to probably come to the United States, because if you make your car in the United States, there is no tariff.”
Trump was also asked if reports that he told CEOs not to raise prices were accurate, to which he replied, “No, I never said that. I couldn’t care less if they raise prices, because people are going to start buying American-made cars.”
The president continued, “I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.”
An aide to the president clarified to NBC following the interview that Trump was specifically referring to foreign car prices with his comments.
Trump also confirmed in the interview that the tariffs would be permanent, telling NBC, “The world has been ripping off the United States for the last 40 years and more. And all we’re doing is being fair, and frankly, I’m being very generous.”
Dealership owners, who were already dealing with car prices increasing by as much as 20 percent prior to the implementation of Trump’s tariffs, have expressed concern, with one owner of a Dodge Ram dealership telling Fox News that he wouldn’t be able to sell a $100,000 truck because of its $20,000 price increase.
Trump supporters like Fox Business Network host Maria Bartiromo seem indifferent, however, with Bartiromo commenting, “How many Dodge Rams do you see around Europe, OK? How many Dodge Rams do you see driving around India? Not many, I bet. Why? Because they don’t buy our cars! And that’s what President Trump is trying to change. Maybe Dodge should start building them here and selling them here.”
A number of Trump’s tariffs are set to take effect on April 2, or what the Trump administration is calling “Liberation Day.” These include tariffs on a wide variety of consumer goods in a move that has been condemned by international leaders, including Japanese Prime Minister Shigeru Ishiba and Canadian Prime Minister Mark Carney. Trump has said that he is willing to negotiate on his planned tariffs “only if people are willing to give us something of great value. Because countries have things of great value. Otherwise, there’s no room for negotiation.”
