On Tuesday local time, U.S. Republican presidential candidate Trump said in a speech at the Economic Club of Chicago that if he is re-elected, he will impose high tariffs on imported cars, including those from Europe and Mexico, in order to strengthen the United States' trade protection policies. In his speech, Trump singled out European automakers by name and promised to impose heavy taxes on imported vehicles to force production back to the United States.
Trump also threatened to impose tariffs of up to 2,000% on cars from Mexico to prevent Mexican cars from entering the U.S. market.
"If I become president, I will impose 100%, 200%, 2,000% tariffs on cars coming from Mexico. They will not sell a single car to the United States."
Trump said that Mercedes-Benz’s production activities in the United States are only assembly work, and that such a production model is unfair to American workers:
"They make everything in Germany and assemble it here. They get away with it."
The United Auto Workers (UAW) responded on the X platform:
“Trump is a scab.”
Trump's tariff plans have sparked concerns among economists, who warn that such policies could lead to a new inflationary spiral in the United States and increase the cost of living for ordinary consumers.
In addition, Trump also said that if he is re-elected, he will not interfere with the Fed's monetary policy, but believes that the president should have the right to discuss interest rates. He also lampooned the role of Fed Chairman Powell:
"I think it's the greatest job in government. You come into your office once a month and say: Let's flip a coin, and everyone talks about you like you're a god."
During the speech, Trump was also asked whether he supported breaking up Google. He responded that Google had too much power, but his main complaint was that Google did not show enough positive news about him.