Trump: "Tariffs Have Positive Impact on Economy... Could Exceed 25%"

"The Higher the Tariffs, the More Factories Will Be Built"
"Musk Is Doing a Great Job"

U.S. President Donald Trump dismissed business leaders' concerns about his tariff policy, claiming in front of major company CEOs that tariffs are having a positive impact. He also stated that tariffs could increase investment in the U.S., creating benefits beyond just jobs, potentially exceeding 25%.

On the 11th (local time), President Trump made these remarks to top executives of major U.S. companies attending the quarterly meeting of the Business Roundtable held in Washington, D.C.

US President Donald Trump who purchased a Tesla Model S. Photo by UPI Yonhap News

The Business Roundtable is an economic organization composed of more than 200 CEOs. Its board members include Tim Cook, Apple CEO; Jamie Dimon, JP Morgan Chase Chairman; Mary Barra, GM CEO; and Doug McMillon, Walmart CEO.

On the 9th, President Trump stated in a Fox News interview that he did not rule out the possibility of an economic recession due to his tariff policy. Following this, as uncertainty and recession fears spread, the U.S. stock market continued to decline for several days, prompting efforts to manage the situation.

President Trump said, "Tariffs are having an incredibly positive effect, and there are car companies that are not building factories in Mexico anymore." He added, "They are stopping construction there and will now build in the U.S."

He also said, "What is very important is that (foreign companies) do not want to pay tariffs of 25% or more," adding, "Tariffs can go above 25%. The higher the tariffs, the more likely they are to build factories here." However, he did not specify which items' tariff rates would be increased.

President Trump further stated, "Ultimately, the biggest win is not the tariffs," and "Tariffs bring big benefits, but moving factories to the U.S. can create benefits greater than tariffs."

Recently, opposition to Tesla has intensified as resentment grows against government efficiency department (DOGE) measures led by Elon Musk, Tesla CEO and a close ally of President Trump, including federal budget cuts and layoffs of public officials. Beyond boycotting Tesla products, there have been arson incidents targeting Tesla vehicles, stores, and charging stations.

On this day, President Trump mentioned his purchase of a Tesla Model S and defended CEO Musk. He claimed, "We are cutting numbers like no one has ever seen before. I guarantee that combined, it will be about $500 million so far." He added, "Musk is doing a great job and should not be sacrificed or suffer while helping the government."

This content was produced with the assistance of AI translation services.