U.S. President Trump Contemplates Raising Automotive Tariffs Following Automaker Investments

U.S. President Donald Trump last week said he may raise automotive tariffs in the near future, reports Reuters.

At a White House event last Thursday, Trump said recent investments from automakers is prompting him to consider raising tariffs on automotive imports.

Such investments include $4 billion from GM going to three U.S. plants, and a $21 billion Hyundai announced in March for a new U.S. steel plant.

"I might go up with that tariff in the not too distant future," said Trump. “The higher you go, the more likely it is they build a plant here.”