Trump says he might increase auto tariffs in 'not-too-distant future'

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Trump says he might increase auto tariffs in 'not-too-distant future'

U.S. President Donald Trump takes a question from a reporter during an event signing a bill blocking California's rule banning the sale of new gas-powered cars by 2035, in the East Room of the White House on June 12 in Washington. [AP/YONHAP]

U.S. President Donald Trump takes a question from a reporter during an event signing a bill blocking California's rule banning the sale of new gas-powered cars by 2035, in the East Room of the White House on June 12 in Washington. [AP/YONHAP]

 
U.S. President Donald Trump said Thursday that he might raise tariffs on imported cars "in the not-too-distant future," as he defended the new 25 percent levies as a move to defend U.S. autoworkers.
 
Trump made the remarks during a bill signing ceremony at the White House amid concerns that a series of his administration's new tariffs would weigh heavily on Korea's trade-reliant economy.
 

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"To further defend our autoworkers, I imposed this 25 percent tariff on all foreign automobiles, and investment in American manufacturing and auto manufacturing ... is surging," Trump said.
 
"I might go up with that tariff in the not-too-distant future. The higher you go, the more likely it is they build a plant here."
 
Trump's remarks came during a White House ceremony to sign a bill blocking California's plan to end the sale of gasoline-only cars by 2035.
 
The Trump administration's new duties on automobiles took effect on April 3, dealing a setback to Korea's automotive industry.
 
Seoul has been negotiating with Washington to reach a wide-ranging deal as part of efforts to avoid or minimize the impact of new U.S. levies, including a 50 percent tariff on steel and aluminum.
 
The U.S. is a top auto export market for Korea. Of Korea's total car exports last year, exports to the U.S. were tallied at $34.7 billion, or 49.1 percent. Hyundai Motor Group and GM Korea exported around 970,000 and 410,000 units to the U.S, respectively, last year.

Yonhap
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