Trump said on Monday that his administration will be announcing new tariffs on cars “in the next few days,” sparking rumors that these could be rolled out before the “reciprocal” tariffs, which are set to come in early next month. He made the statement while announcing a big investment plan by Hyundai Motor Group, which will invest $21 billion in the U.S. through 2028.
Trump mentioned that the tariffs would mostly focus on cars, and possibly also on lumber and chips down the road. He added that while he might give some countries tariff breaks, they would need to offer the same in return. “It’s reciprocal,” he said. He also confirmed that April 2 is a key date when the U.S. will announce the reciprocal tariffs, aiming to match what other countries charge on U.S. exports.
Earlier in the day, Trump also talked about tariffs on cars, steel, aluminum, and even pharmaceuticals. He said the U.S. needs these industries, especially in case of situations like wars, and emphasized that the country should be making more of these products itself. “We’ve been taken advantage of like never before,” he said, referring to how the U.S. has been treated by other nations.
Trump’s push for tariffs is part of his broader plan to boost American manufacturing, reduce the trade deficit, and tackle issues like illegal immigration and drug trafficking.
