Trump Used Shady Crypto Venture to Triple His Net Worth as President
“The tariff will be increased to 25%. It is fully understood and agreed that if they produce cars and trucks in American factories, there will be NO TARIFF,” Trump said. “Many automobile and truck factories are currently under construction, with over $100 billion invested, a RECORD in the history of automobile and truck manufacturing. These factories, staffed by American workers, will soon open their doors. There has never been anything like what is happening in America today! Thank you for your attention to this issue.”
Why Trump would be “pleased” with this decision is one thing, but his assertion that several auto plants are currently under construction is misleading, to say the least. Industry experts say most automakers aren’t building new factories, but instead are considering change their investments years from now. Although some automakers have pledged to spend more money in the United States, they have not announced new manufacturing facilities or plants, and their plans may not even come to fruition.
“They will look at models that are coming to the end of their natural cycle, something that happens every five years or so, and prepare to announce ‘investments’ to continue the new version of the model in those factories,” Greig Mordue, professor of manufacturing policy at McMaster University, told Al Jazeera.
