Trump 'couldn't care less' if car prices jump, Brunswick Beacon

Brunswick Beacon, 04.24.25

That’s what Trump said after The Wall Street Journal reported that he asked America’s three major automakers not to pass along his tariffs as price hikes to American consumers.

Investment bank Goldman Sachs says Trump’s 25% tariffs will inflate sticker prices by thousands of dollars. They will even make the car you already own more expensive to repair and insure, because half the vehicles sold here and 60% of parts in vehicles assembled here are imported. Trump admitted there will be “some pain,” adding, “but we’re OK with that.” Whaddaya mean “we?”

Ford CEO Jim Farley said Trump’s tariffs cause “chaos” that will “blow a hole in the U.S. industry that we've never seen.” Stellantis makes Chrysler, Dodge, Ram and Jeep. Chairman John Elkann said Trump’s tariffs cause uncertainty, raise prices and disrupt demand. After Trump’s tariff announcement, Stellantis laid off 900 workers at five U.S. plants. Stock markets cratered.

Following nearly universal condemnation of his tariffs, Trump called Farley, Elkann and GM’s CEO Mary Barra and asked them not to hike prices after his tariffs hit. That’s Trump’s admission that economists are right: tariffs tax consumption. They’re paid by the importer, and passed along to you as higher prices. 

Because foreign countries DON’T pay Trump’s tariffs, as he falsely claims, Trump asked American car manufacturers to eat them! The problem is they can’t afford to. “Tariffs, at any level, cannot be offset or absorbed,” said Ray Scott, chief executive of auto parts supplier Lear.

The big winner is Elon Musk’s Tesla, the only company that builds all its vehicles here. Musk spent $277 million to elect Trump. What an investment! Trump anointed Musk his co-president, turned the White House into a Tesla showroom, and threatened to deport anyone who protests against Tesla. 

Congratulations! Thanks to Trump, you’re about to pay more to buy and operate a car so the world’s richest man can become even richer. 

Kristine Garrity

Calabash