President Donald Trump signaled a potential shift in trade policy regarding Chinese automakers during an interview with Fox News on Saturday. While initially dismissing reports of a framework allowing Chinese vehicle imports, the President later stated that he would be open to Chinese companies building vehicles within the United States.
During the interview, Trump addressed comments made by Senator Elissa Slotkin (D-MI) on the social media platform X regarding a potential framework for Chinese automakers. Trump characterized these reports as a "total phony rumor," asserting that his administration's tariff strategy had successfully kept Chinese players out of the U.S. market. He also criticized Slotkin, stating, "Slotkin is doing a terrible job, by the way…like most of the radical left."
However, the President later clarified his position, stating, "If China wanted to come in and open a plant to build their cars here, I would be okay with it." Trump added a specific condition for such an entry, requiring that Chinese automakers hire U.S. workers. He emphasized that he opposes Chinese companies manufacturing vehicles in Mexico and shipping them across the border.
Trump reiterated his commitment to tariffs, noting that they have kept Chinese automakers out of the market. "I have a 100% tariff from 100 to 150," he said, referring to the rates applied to Chinese imports. He also addressed the automotive industry's domestic manufacturing push, crediting his policies for preventing companies like General Motors Co. (NYSE: GM) and Ford Motor Co. (NYSE: F) from going bankrupt.
Discussing the breakdown in talks between the U.S. and Canada, Trump stated that automakers were leaving Canada to manufacture in the U.S. He blamed the Canadians for the situation, referencing U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.
On the topic of Boeing Co. (NYSE: BA), Trump expressed optimism regarding a potential deal with Chinese airlines. He stated, "I get every deal," noting that Chinese airlines had previously confirmed a 200-aircraft order for the planemaker following his visit to Beijing in May.
