Fox Business Katrina Campins collaborator joins ‘The Big Money Money Show’ to comment on the feeling surrounding the imminent rates plans of President Donald Trump.
The United Car workers praised on Wednesday the new tariffs of President Donald Trump about car imports, qualifying it as “victory for automatic workers.”
In a statement, the UAW, one of the largest unions in the United States, said Trump’s plan to impose 25% on all imported cars was a continuation of the “made in America” rebirth of the president and marked the beginning of the end of the Free Trade Agreement of North America, or NAFTA.
“We applaud the Trump administration for intensifying to end the free trade disaster that has devastated working class communities for decades. Finishing the race down in the automotive industry begins with the repair of our broken commercial agreements, and the Trump administration has made history with today’s actions,” said UAW Shawn Fain president.
Look: how investors can take advantage of President Trump’s tariff agenda
The united auto -Whis Union (UAW) logo is seen during a tour of the president of the United States of the Electric Vehicle Assembly of General Motors Factory Zero in Detroit, Michigan, on November 17, 2021. (Mandel Ngan / AFP through Getty Images / Getty Images)
Finishing the “Race to the Fund,” said Fain, must include “ensure union rights for automatic workers everywhere with a strong National Labor Relations Board, a decent retirement with protected social security benefits, health for all workers, including Medicare and Medicaid, and dignity inside and outside work.”
The president of United Car workers, Shawn Fain, attests to the workers’ work hours before the Health, Education, Labor and Pensions Committee of the Senate Senate in the building of the Dirksen Senate Office in Capitol Hill on March 14, 2024 in Washin. (Somodevilla / Getty images / getty images)
Fain said Trump’s tariffs are “an important step in the right direction for automatic workers and blue neck communities throughout the country, and is now in car manufacturers, from the large three to Volkswagen and beyond, to bring good work from the union to the United States”
President Donald Trump talks to members of the media at the South grass before addressing Marine One at the White House in Washington, DC, on February 28. On Tuesday, the Trump administration imposed tariffs on Canada and Mexico. (Reuters / Nathan Howard / Reuters)
Speaking at a press conference at the White House the earlier Wednesday, President Trump said he will impose a 25 % rate to all imported cars, compared to 2.5 % before. He indicated that automatic tariffs will enter into force on April 2.
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In his comments from the Oval of the office, Trump said the tariffs “will lead to the construction of many plants, in this case automatic plants, and will see numbers that he has not seen in terms of employment. Ta little time, initially he will have excellent construction numbers, and then finally he will have many people doing many cars.”
Eric Revell de Fox Business contributed to this report.
