Targeting Europe and Mexico, Trump threatens to impose comprehensive tariffs on imported cars
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During his speech at the Economic Club of Chicago, Trump threatened to impose high tariffs on imported cars from Europe and Mexico, up to 2000%. He stated that this move aims to force production back to the United States and criticized the existing car production model for being unfair to American workers. Economists warned that this could trigger a new inflation spiral, increasing consumer living costs. Trump also mentioned not intervening in the Federal Reserve's monetary policy, but believed that the president should have the right to discuss interest rate issues
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