Trump Says 10% Tariff Would Boost US Manufacturing
Former President Donald Trump defended his proposal to increase tariffs on all imports by 10% (see 2308290005), saying it would incentivize American and foreign companies to build factories in the U.S. instead of other countries.
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"If you charge tariffs to China, they're going to build their car plants here and they're going to employ our people," the presumptive 2024 Republican presidential nominee told CNBC on March 11. “We don’t want to get cars from China. We want to get cars made by China in the United States using our workers.” Trump said that tax cuts could offset any price hikes that U.S. consumers experience as a result of the new tariff.