What did Donald Trump do today?

He said he "couldn't care less" if car prices went up because of his tariffs.

After months of chaotic back-and-forth, Trump's 25% tariffs on foreign automobiles are once again set to go into effect on April 2. As with all tariffs, that tax will be paid by American importers, who will then raise prices for consumers accordingly.

But cars manufactured in the United States will become more expensive, too—in part because of retaliatory tariffs on the oversea parts needed to make them, and in part because higher prices for foreign-made cars will give American automakers room to make greater profits by raising their own prices. 

In an interview with NBC News today, Trump was asked if he'd asked American carmakers to keep prices down. He replied:

No, I never said that. I couldn’t care less if they raise prices, because people are going to start buying American-made cars. I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.

An aide later claimed that what Trump had meant to say was that he hoped foreign carmakers raised their prices, but in fact it will be Trump's 25% import tax that does that.

The effects on the economy are already being felt. In an alarming sign, used car prices are suddenly ticking up, as consumers—taking Trump at his word—have begun to look for bargains rather than pay the tariff-inflated prices for new ones. Used car prices also shot up during the first year of the COVID-19 pandemic, when the problem was lack of supply, and that helped make the ensuing inflationary cycle far worse than it otherwise would have been. 

As is typical, the worst effects of that inflation were felt only once the economy had begun to recover, meaning in this case during the Biden administration. Trump campaigned in 2024 on the claim that the inflation was Biden's fault—which may explain why he "couldn't care less" if it comes back.

Why does this matter?

• The President of the United States is actively rooting for Americans to have to pay massively inflated prices on a major purchase.