President Trump warned auto CEOs not to raise prices during a recent call, according to The Wall Street Journal. The call occurred amid a 25% tariff on all imported vehicles and parts starting April 2. He claimed the tariffs would benefit U.S. manufacturing and eliminate Biden-era EV mandates. Auto executives expressed concern, stating the tariffs will force price hikes of up to 12% by May due to dependency on foreign parts. Trump emphasized tariffs to restore domestic industry, though analysts and CEOs say rising costs are inevitable.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump warned auto CEOs not to raise prices during a recent call, according to the
00:06Wall Street Journal. The call took place amid a 25 percent tariff on all imported vehicles
00:11and parts starting April 2nd. He claimed the tariffs would benefit U.S. manufacturing
00:16and eliminate Biden-era EV mandates. Auto executives expressed concern, stating the
00:21tariffs will force price hikes up to 12 percent by May due to dependency on foreign parts.
00:26Trump emphasized tariffs as a tool to restore domestic industry,
00:29though analysts and CEOs say rising costs are inevitable.