Speaking to reporters in the Oval Office on Wednesday, President Trump discussed the response of the Big 3 automakers to his new auto tariffs.
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00:00No, I haven't
00:03Sir with the big three automakers about these tariffs, what was their reaction?
00:09It depends on whether or not they have factories here. I can tell you if if they have factories here, they're thrilled
00:16if you don't have factories here, they're gonna have to get going and build them because otherwise they have to pay tariffs very simple and
00:22Most of those have pretty big factories here like General Motors has big factories here
00:26They're gonna move their parts divisions back to the United States because some of them were made in Canada and some of them were
00:32Made in Mexico and other places
00:34They'll be moving their parts division back to the United States in factories where they may be at 60%
00:40Capacity, so they don't even really have to build too much of a factory
00:43But you know generally speaking if they have factories here plants here where they make their cars and equipment
00:50But they make their cars here
00:52They are thrilled
00:54same thing with the steel industry steel industry is now paying a 25% tariff as you know, I put it on last week and
01:01The business is roaring in the United States and we can't because of military
01:05We can't lose the steel industry if I didn't put the initial tariffs on steel in my first term
01:10You wouldn't be able to have a military because we wouldn't have every steel company every steel
01:16Company would be bankrupt in the United States and every plant would be closed
01:22But now they're booming and putting this tariff on this additional tariff for steel and aluminum
01:27It's it's making them thrive and it's already happening