President Donald Trump announced new auto tariffs during an executive order signing ceremony in the Oval Office.
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NewsTranscript
00:00So, this is the beginning of Liberation Day in America.
00:07We're going to take back just some of the money that has been taken from us by people
00:14sitting behind this desk or another desk that's not quite as nice, but they have their choice
00:18of seven, as you know.
00:21And we're going to charge countries for doing business in our country and taking our jobs,
00:31taking our wealth, taking a lot of things that they've been taking over the years.
00:35They've taken so much out of our country.
00:38Friend and foe.
00:39And frankly, friend has been oftentimes much worse than foe.
00:43And this is very modest.
00:45What we're going to be doing is a 25% tariff on all cars that are not made in the United
00:51States.
00:52If they're made in the United States, there's absolutely no tariff.
00:55We start off with a 2.5% base, which is what we were at.
00:59And we go to 25%.
01:02And basically, as you know, and as you've been saying, not reporting as accurately as
01:06it should be reported, because it's a massive story.
01:10Business is coming back to the United States so that they don't have to pay tariffs.
01:13And I think also because of November 5th, the election, they're very happy.