Shrugging off the prospect of price hikes, US President Donald Trump said Saturday that he is not concerned about potential rises in vehicle prices following his new 25% tariffs on imported cars and auto parts.
"I couldn't care less if they raise prices," Trump told NBC News in a phone interview.
"Because if they do, people are gonna buy American-made cars. We have plenty," he said.
Trump denied reports that he pressured carmakers to keep prices down, instead saying he hopes the tariffs will motivate companies to build vehicles in the US.
"The message is: Congratulations, if you make your car in the US, you're going to make a lot of money," he said.
"If you don't, you're going to have to probably come to the US," he added.
The tariffs, set to go into effect Thursday, are part of a broader strategy to impose permanent reciprocal levies that match foreign countries' import taxes dollar-for-dollar.
"The world has been ripping off the US for the last 40 years and more," Trump said, repeating an oft-stated complaint.
He added, however, that he would consider reducing tariffs "only if people are willing to give us something of great value."
Industry experts warn that the tariffs will likely raise production costs across the board, even for vehicles made in US factories, due to a reliance on foreign parts.
That could push car prices higher and slow production.
Canadian Prime Minister Mark Carney has already threatened retaliatory tariffs, raising the prospect of a broader trade conflict, fueling a war that has brewed since Trump took office in late January.
After Trump stressed bringing prices down in his election campaign last year, many voters have been confused by his push for tariffs, which most economists say will result in higher prices.
