Fox Business contributor Katrina Campins joins the Big Money Show to comment on the sentiment surrounding President Donald Trump's looming tariff plans.
United auto workers on Wednesday praised President Donald Trump's new tariffs on car imports, calling it a “winner for automakers.”
In a statement, UAW, one of the largest US labor unions, said Trump's plan to impose 25% on all imported cars was a continuation of the president's “American Renaissance” and marked the beginning of the end of the North American Free Trade Agreement or NAFTA.
“We praise the Trump administration for stepping up to end the free trade disaster that has been destroying working-class communities for decades. Ending the race to the bottom of the automotive industry began with a revision of a broken trade deal, and the Trump administration made history with what it is today.”
Watch: How investors can leverage President Trump's tariff agenda
The United Autoworker Union (UAW) logo will be seen on November 17, 2021 during a tour by the US President of the General Motors Factory Zero Electric Vehicle Factory in Detroit, Michigan. (Mandel Ngan/AFP via Getty Images/Getty Images)
To end the “race to the bottom,” Fine said, it should include “ensure union rights of motorists” with “a strong National Labor Relations Commission, proper retirement with protected Social Security benefits, healthcare for all workers, including Medicare and Medicaid, and decent retirement with job dignity.”
United Autoworker President Shaun Fein testified about the casualties of workers' working hours before the Senate Senate Health, Labor and Pensions Committee on the Darksen Senate Office Building in Capitol Hill, on March 14, 2024. (Chip Somodevilla / Getty Images / Getty Images)
Fein said Trump's tariffs are “a big step in the right direction for automakers and blue-collar communities across the country, and are currently with automakers who are trying to get good union jobs back to the US, from the Big 3 to Volkswagen.”
President Donald Trump will speak to members of the South Lawn media before riding a Marine at the Washington, D.C. White House on February 28th. On Tuesday, the Trump administration imposed tariffs on Canada and Mexico. (Reuters/Nathan Howard/Reuters)
Speaking at a press conference held at the White House on Wednesday, President Trump said he would impose a 25% tariff on all imported cars. He indicated that motor vehicle fares will come into effect on April 2nd.
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In his elliptical office remarks, Trump said that tariffs “will lead to the construction of many plants, in this case, auto plants, and we'll see numbers we haven't seen in both employment.
Eric Revell from Fox Business contributed to this report.
