Trump says auto tariffs are permanent and doesn’t care if they cause carmakers to hike prices — ‘I hope they raise their prices’

• President Donald Trump shrugged with concerns That his auto tariffs caused by carmakers to raise prices, saying he couldn’t think a little if they were doing. In an interview with the NBC news, he added that, “I hope they raise their prices, because they do, people buy cars made by American.” But even the cars gathering in the US have foreign-made parts.

President Donald Trump explained that his new auto tariffs are permanent and held concerns that they can do carmakers to rise in prices.

To a Interact with NBC News Last Saturday, he was asked about a new Wall Street Journal The report said he warns auto CEOs not to hike in prices while discussing tariffs with them.

“No, I never said that. I don’t want to care when raising prices, because people start buying cars made of american,” Trump replied.

He added, “I don’t worry. I hope they raise their prices, because if they do, people buy cars made by Americans.” We have a lot. “

Trump said later when the foreign car prices go, then consumers buy America’s cars.

He also confirms the tariffs here to stay, saying, “Perfect, they are permanent, certainly the world in the United States, and better.”

Parts made of foreign parts also hit a 25% tariff, but vehicles and parts imported into the US-Mexico Agreement Age Trade cannot see the process of imposing them, the White House says.

US and foreign automakers have close integrated supply chains surrounding North America. During the process of making, cars and parts can cross between the US, Mexico and Canada several times.

Wedbush Securities Analyst Dan Ives estimated that Cars can go to $ 5,000 to $ 10,000 Due to auto tariffs, depending on a vehicle is a mass market or premium brand.

“Every automaker in the world needs to raise prices in some form sold in the US, and the tariff claim heard at this moment,” he wrote to a research note Friday.

While the White House says that the tariffs are intended to change the US Industry industry, ives doubt that car making can completely proceed.

That’s because even cars built in America have foreign-made parts and components made up 40% to 50% of their value.

“A US car with all the US segments in the US is a clear story that cannot be done today,” he added.

This story originally shown Fortune.com

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