Trump's Tariff Talk: Raising Import Rates?

President Donald Trump hinted at a potential increase in the 25 percent tariff on cars imported from Canada to the US, arguing for a focus on domestic production. In a conversation from the Oval Office, he emphasized the importance of prioritizing American-made vehicles over imports.

President Donald Trump announced potential plans to raise the 25 percent tariff currently levied on cars imported from Canada to the United States. Speaking to reporters from the Oval Office on Wednesday, Trump suggested that the tariff could increase as part of his administration's efforts to bolster American manufacturing.

Trump pointed out that the existing tariff is a measure aimed at encouraging domestic car production. 'All we're doing is we're saying, we don't want your cars, in all due respect. We want, really, to make our own cars,' he remarked, highlighting his focus on strengthening the US automotive industry.

While the decision has yet to be finalized, Trump's comments indicate a continued push towards economic policies prioritizing local production over imports, a stance that has been a hallmark of his administration's trade policy.

(With inputs from agencies.)