Donald Trump Pushes Tariffs On Chinese Cars In Detroit Visit, Vows To Revamp Industry

Former president and 2024 Republican Party nominee Donald Trump commented on Thursday morning’s Consumer Price Index inflation data in an appearance at the Detroit Economic Club.

Inflation came in "double" the expectations, Trump said, which is incorrect: the CPI for September came in at 2.4% vs the 2.3% expected by economists.

Trump also spoke about interest rates, claiming they are at "10%". But then, Trump shifted focus to the automotive industry. 

Trump Talks Autos In Detroit Visit: "It's my goal to get our country on an automaking path that at some point in the near future it will be bigger and more important than it ever was," Trump said.

Trump said revamping the auto industry is one of his big passions. He said he saw Japan coming in and taking market share away from American companies in the 1990s and compared it to "taking candy from a baby."

Trump mentioned tariffs on Chinese cars to ensure that cars from China don't flood American roads and undercut domestic manufacturers. Trump said that he and China President Xi Jinping always had a "great relationship" but "broke up" for a little bit because of the COVID-19 pandemic. 

"I want American companies to dominate not only the American markets but also the foreign markets," Trump said.

Trump said he wants to bring the corporate tax rate down from 21% to 15% for companies that produce goods in America. He also mentioned tax incentives for businesses that build new plants in the U.S.

John Rakolta, the former United States ambassador to the United Arab Emirates under Trump, introduced the former president. Rakolta, a Michigan native, said Trump made efforts to maintain peace in the Middle East while he was in office

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Comments Follow Biden Administration’s Tariff Plan: Lael Brainard, the director of the National Economic Council, spoke at the Detroit Economic Club in September and spoke about President Joe Biden's plans to increase tariffs on Chinese vehicles.

“If someone wants to drive an EV, we want to make sure it was made in America and not in China,” Brainard told the club last month.

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