President Donald Trump announced a 25 percent tariff on foreign-made cars as part of his greater announcement in the Rose Garden on what has been dubbed “Liberation Day” for the American people, as Trump gears up to sign an executive order instituting reciprocal tariffs.
“April 2 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again,” Trump began, walking through the reality of America getting completely battered in trade over the years.
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike, American steel workers, auto workers, farmers and skilled craftsmen. …They really suffered gravely,” he said.
“They watched in anguish as foreign leaders have stolen our jobs. Foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream,” he said, declaring that it will not happen anymore.
“In a few moments, I will sign a historic Executive Order instituting reciprocal tariffs on countries throughout the world. Reciprocal. That means they do it to us and we do it to them. Very simple. Can’t get any simpler than that,” he said, providing a few key examples of how America is getting ripped off.
“The United States charges other countries only a 2.4 percent tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices, like 60 percent. India charges 70 percent. Vietnam charges 75 percent, and others are even higher than that. Likewise, until today, the United States has for decades charged a 2.5 percent tariff,” Trump said.
“The European Union charges us more than 10 percent tariffs … India charges 70 percent, and perhaps worst of all are the nonmonetary restrictions imposed by South Korea, Japan and very many other nations as a result of these colossal trade barriers,” he said, noting that the vast majority of vehicles in South Korea, for example, are made in South Korea. The same goes for Japan.
Trump said, placing the blame squarely on past presidents and leaders:
Toyota sells 1 million foreign made automobiles into the United States. And General Motors sells almost none. Ford sells very little. None of our companies are allowed to go into other countries. And I say that friend and foe, and in many cases, the friend is worse than the foe in terms of trade, but such horrendous imbalances have devastated our industrial base and put our national security at risk.
“They let it happen, and they let it happen to an extent that nobody can even believe. That’s why, effective at midnight, we will impose a 25 percent tariff on all foreign-made automobiles,” Trump said, later adding in his speech that leadership is finally putting “America first.”
WATCH below: