Trump: 'We're Going To Have A Market The Likes Of Which Nobody Has Ever Seen Before' Due To Tariffs

2 days ago

Speaking to reporters yesterday, President Trump defended his tariffs.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Transcript

00:00First again, thank you very much

00:03Can I ask you about tariffs mr. President on the car tariffs, how do you

00:08Assure that the car coming into the country is fully built

00:10Could it could an automaker in Germany say leave the tires off a car? We're gonna have very strong

00:17policing and it's pretty easy to do if

00:20Parts are made in America and a car isn't those parts are not going to be taxed or tariff

00:26And we'll have very strong policing as far as that's concerned for the most part

00:30I think it's going to lead cars to be made in one location

00:32You know right now a car would be made here sent to Canada sent to Mexico sent all over the place. It's ridiculous. So

00:40this is a very simple system and

00:43The beauty of the 25, it's one number. It's not up or down depending on the cost of the car

00:48It's one number and that number is going to be used to reduce debt greatly in the United States and to build things

00:54Reduce taxes, I mean basically I view it as

00:59Reducing taxes and also reducing debt and within a fairly short period of time. I think we're gonna have a balance sheet

01:06That's gonna be outstanding

01:09How do you show Americans then that this will not cause an a long-term increase in prices

01:14Well, look, I think we're gonna have a market the likes of which nobody's ever seen before not in this country

01:20You know, we had the best market ever in my first term

01:24It was the strongest market ever the best economy ever and I think you're gonna I think this blows it away

01:30But this is something that people have wanted to do presidents have wanted to do for a long time

01:35A lot of them didn't understand it. It wasn't a priority for them, but foreign countries understood it very well and

01:42They've really ripped us off at levels that nobody's seen before but that's not gonna happen

01:47Mr. President, is this for today or on April 2nd, the auto tariffs?

01:51Do these auto tariffs go into effect today or on April 2nd?

01:54They go into effect on April 2nd. We're signing today. It goes into effect April 2nd. We start collecting on April 3rd

02:04Are there any more tariffs that are coming in on April 2nd?

02:09What does that mean?

02:10Any more tariffs on any other sectors on April 2nd, for example, chips or pharmacies?

02:14Not then but we will be putting a tariff on lumber

02:17We as you know have a tariff already on steel and on aluminum of 25% and we're taking in tremendous amounts of dollars

02:26More importantly our steel factories and aluminum factories are roaring. They're starting to roar. They're building new ones

02:34I just heard from Nucor which is a big a big company very big steel company and they're

02:39building a massive plant for steel that they wouldn't build without this

02:45You're gonna see things that are gonna be actually amazing and I think you already have

02:51You know we've had some news conferences where I can't have enough

02:55They want to do news conferences where they announce they're gonna spend 20, 30, 40 billion dollars

03:00But Apple as an example is spending 500 billion dollars

Trump: 'We're Going To Have A Market The Likes Of Which Nobody Has Ever Seen Before' Due To Tariffs

Category

Transcript

Recommended