Trump Signals Possible Cuts to Some US Tariffs
President Says Other Import Taxes Could Rise as Investment Ramps Up
Key Takeaways:
- President Donald Trump said he may cut tariffs on some U.S. goods beyond recent small grocery-related carveouts while indicating others could face increases.
- He argued the tariffs are driving investment he described as totaling $18 trillion and helping revive auto and semiconductor manufacturing.
- Trump cited carmakers’ return and the government’s Intel stake as benefits as his administration weighs further tariff adjustments.
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President Donald Trump said he might consider lowering tariffs on some U.S. goods while reiterating that his broad use of import taxes is helping lure investment and revive long-suffering industries like auto and semiconductor manufacturing.
Asked inan interviewwith Politico whether he’d rule out cutting tariffs on more goods than coffee, beef and bananas, Trump said he would “on some, and on some I’ll increase tariffs.” He said the breaks he approved recently amid a voter outcry against elevated prices on groceries in particular were “very small carveouts. It’s not a big deal.”
Under the same line of questioning about levies, Trump said “we’ve got $18 trillion coming into our country,” an apparent reference to investment pledges by companies and countries looking for tariff relief have made to the Trump administration.
(Politico via YouTube)
“You know what happens is because of tariffs, all of the car companies are coming back,” Trump said, adding that the government’s equity stake in Intel Corp. earlier this year was also a win. “In about 10 minutes, I made $40 billion. Nobody talks about that.”
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