Speaking to reporters yesterday, President Trump defended his tariffs.
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NewsTranscript
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