Trump Defends Tariffs, Claims They'll Bring Hundreds of Billions in Investments
US President Donald Trump defended his tariff strategy, stating that it would not harm the American economy but rather attract hundreds of billions of dollars in investments.
According to Trump, the tariffs imposed on goods linked to forced labor were an alternative route after the US Supreme Court struck down the levies imposed under the International Emergency Economic Powers Act (IEEPA) earlier this year.
'No, because it's bringing hundreds of billions of dollars,' Trump said when asked whether the tariffs announced a few days ago would hurt the economy.
Trump pointed to various examples of companies investing in the US due to tariff policies. He mentioned that General Motors has saved money thanks to tariffs and that Toyota is building $12 billion worth of plants in the United States to avoid tariff costs.