In Video: LIVE: Trump announces tariffs on the auto industry | NBC News

Trump Announces 25% Tariff on Non-US-Made Cars, Promises to Boost Domestic Industry

In a press conference, President Donald Trump announced that the United States will be imposing a 25% tariff on all non-US-made cars, effective immediately. The move is part of the administration’s efforts to boost the domestic automobile industry and create jobs in the country.

The president emphasized that the 25% tariff will not apply to cars manufactured in the United States, as he seeks to incentivize foreign companies to build their plants in the country. He said that many companies have already started setting up shop in the US, including Honda, which is building one of the largest plants in the world in Indiana.

Trump also highlighted the success of the recent "Made in America" executive order, which has led to a surge in investment in domestic industries. He claimed that the US is now seeing record levels of new plant announcements, with many international companies looking to establish a presence in the country.

The president also addressed concerns about the impact of tariffs on the global economy, saying that the US has been a "big country" that has been taken advantage of for too long. He emphasized that the tariffs are necessary to protect American jobs and industries, and that the country will reap significant benefits from the new policy.

Reaction from Automakers and Investors

Automakers and investors have been reacting to the news, with some expressing concern over the potential impact on their businesses. General Motors, for example, has been building plants in the US and has expressed concerns about the tariffs. Honda, on the other hand, has already committed to building a massive plant in Indiana, which Trump credited with the administration’s pro-business policies.

TikTok Deal

The president also touched on the upcoming deadline for the sale of TikTok, a popular social media app owned by Chinese company ByteDance. Trump expressed confidence that the US would find a suitable buyer for the app, and hinted that he would use tariffs to negotiate a deal.

Education Reform

Finally, Trump touched on the topic of education reform, saying that he would like to return control of education to the states. He emphasized that some states, like California, would be tougher to work with due to their poor track record, but that others, like New York and Iowa, would be more receptive to change.

Key Quotes

• "Friend and foe, and frankly, friend has been often times much worse than foe."
• "Business is coming back to the United States. It’s a new business, it’s a big deal, and it’s a great deal."
• "We’re going to make steel great again, believe me, it’s going to be tremendous."
• "I think Signal is a good platform, but I don’t know if it’s the best platform. We’re going to find out, we’re going to make sure it’s the best platform for our country."
• "I’d like to return education control to the states. I think it would be very successful, very successful, and I think it would be a great thing for our country."