Trump slaps 25% auto tariff on all foreign cars targeting ‘friends and foes’ to spur U.S. business

President Donald Trump is slapping a new 25 percent tariff on all foreign-made cars as he tries to spur business in the United States.

‘What we’re gonna be doing is a 25 percent tariffs on all cars that are not made in the United States,’ Trump told reporters in the Oval Office.

‘Business is coming back to the United States,’ he declared.  

Trump said that the tariff that will go into effect on April 2 will impact both ‘friends and foes’ of the U.S. and is considered ‘modest.’ 

The president is signing an executive order to help the auto industry ‘flourish like never before.’ 

‘It will lead to tremendous growth in the automobile industry,’ the president added. 

Trump downplayed fears that Americans will see higher prices due to the new tariff, saying ‘we’re going to have the best economy ever.’ 

Experts have estimated that the price of cars will rise by thousands of dollars due to Trump’s action.

According to the Anderson Economic Group the cost of a car that’s built in the U.S. – but requires foreign parts – could also cost more due to the tariffs.

The group estimated Americans could see a rise between $3,500 to $12,000 for each vehicle. 

The new auto tariff comes after Trump in February slapped a 25 percent tariff on steel and aluminum imports.

Trump has thrown his support behind American-made Teslas run by his ‘first buddy’ Elon Musk. 

He even purchased a red Telsa Model S earlier this month after they were displayed on the White House lawn.

He turned the South Lawn of the White House into a Tesla showroom with five different models – including the infamous cybertruck – on display on the driveway.

The model S Trump bought has a starting price of $76,880.

He and Musk sat in the car. Trump started the engine and Musk showed him the features. Alas, the president didn’t take it for a test drive, saying the Secret Service would let him.

He added he would pay by personal check. ‘I don’t want a discount,’ he said.

Musk said he would accept a personal check from the president.

‘His credit’s good,’ Musk noted. He had his young son X with him on the South Lawn.

Trump was making good on a his promise to purchase one of the pricey electric cars to support Musk, who is leading his Department of Government Efficiency efforts to cut back the size and scope of the federal government.

The president blasted ‘left-wing billionaires’ for being behind the attacks on Tesla lots as he defended Musk.

The president also argued those wealthy liberals were behind his state and federal indictments.

He discussed the matter in an interview on Newsmax on Tuesday evening.

Newsmax’s Greg Kelly brought up the ‘Tesla violence,’ asking the president: ‘Have you heard anything about billionaires on the left, whether it’s Soros or somebody else? Have you heard anything about planning, coordination, funding for these attacks?’

‘I believe that is part of it. Yeah,’ Trump said. ‘ There are some of them that were involved with my trials that were, I think, probably involved with that also. And you know, Elon has done a very good job.’