Fox News tweets that former President Donald Trump reveals to the network "his plan to impose a 200 percent tariff on auto manufacturers producing cars abroad and selling them in the U.S., citing the need to protect American jobs and industry."
Former President Donald Trump reveals to @MariaBartiromo on @SundayFutures his plan to impose a 200% tariff on auto manufacturers producing cars abroad and selling them in the U.S., citing the need to protect American jobs and industry. pic.twitter.com/Z15a9Id97d
— Fox News (@FoxNews) October 13, 2024
So former President Trump saber-rattles about using tariffs, a basic understanding of which is that they are taxes on imported goods. So in this case, according to the tweet, the former president is talking about a 200 percent tariff on auto manufacturers producing cars abroad and selling them in the U.S. He is quoted, as illustrated by the graphic, as decrying the building of factories across the border and selling millions of cars in the United States.
"The country was at the richest point in its history in the 1890s," Trump said during an interview by Dave Ramsey. "It was all tariffs. If you looked at William McKinley as an example. He was a big tariff president. They had committees that were put in charge of what to do with the money. We were taking in so much money. And McKinley would say, 'Why should we let other people come in and steal our factories and steal our workers and steal our jobs? And why shouldn't we benefit?' And he tariffed the other countries."
William McKinley was the 25th president of the United States, a Republican, serving from 1897 until he was assassinated in 1901, not long into his second term.
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