• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
FinanceElectric vehicles
Asia

Trump invites Chinese automakers to build cars in the U.S.—and says ones they build in Mexico will be hit with tariffs up to 200%

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
July 19, 2024, 7:23 AM ET
Former US President Donald Trump during the Republican National Convention at the Fiserv Forum in Milwaukee on July 15, 2024.
Former US President Donald Trump during the Republican National Convention at the Fiserv Forum in Milwaukee on July 15, 2024. Al Drago—Bloomberg via Getty Images
Add Fortune on Google for similar content.

Former President Donald Trump has reiterated an openness for Chinese automakers to build cars in the US as a way to boost the economy, signaling a potentially different approach from a Biden administration that has sought to keep out vehicles with links to the country.

Recommended Video

“Right now as we speak, large factories just are being built across the border in Mexico” by China to make cars to sell in the US, Trump said in an address at the Republican National Convention in Milwaukee on Thursday. “Those plants are going to be built in the United States and our people are going to man those plants,” he said, adding that he would otherwise slap tariffs as high as 200% on each car to prevent them from entering the country.

The comments are similar to remarks he made in March at a Ohio rally welcoming Chinese auto companies to build plants in the US, without naming any firms. China’s largest EV maker BYD Co. is looking to set up one of the largest auto factories in Mexico.

Both Trump and Biden seek to keep made-in-China cars from entering the US to protect domestic manufacturers. But the Republican candidate appears to take a more transactional approach when it comes to Chinese companies building cars in the US.

Biden, in contrast, has broadly scrutinized vehicles with links to China, including potentially those made outside the country. The Biden administration has tried to exclude firms at least 25% owned by a Chinese government entity from benefiting from tax credits. It has also launched an investigation into cars with software made in China that could compromise the data and safety of US citizens. 

Both men want to look tough on Beijing as they head toward a potential election rematch in November. Trump referred to Covid-19 as the “China virus” during the rally, to roaring applause from the audience, as he recalled his trade negotiations with the Chinese government during his stint in the White House.

Trump also vowed to end an “electric vehicle mandate” on day one if he takes office. While the Biden administration has no such mandate, critics of new air-pollution limits issued by the Environmental Protection Agency have said they would illegally force automakers to sell EVs.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current price of Ethereum for June 26, 2026
Personal FinanceEthereum
Current price of Ethereum for June 26, 2026
By Joseph HostetlerJune 26, 2026
2 hours ago
Current price of Bitcoin for June 26, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for June 26, 2026
By Joseph HostetlerJune 26, 2026
2 hours ago
Current price of gold as of June 26, 2026
Personal Financegold prices
Current price of gold as of June 26, 2026
By Danny BakstJune 26, 2026
2 hours ago
Top CD rates from major banks June 26, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 26, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 26, 2026
2 hours ago
Current price of oil as of June 26, 2026
Personal FinanceOil
Current price of oil as of June 26, 2026
By Joseph HostetlerJune 26, 2026
2 hours ago
jon
Commentaryphilanthropy
Shell Foundation CEO: climate tech works. Getting it to a billion people who need it is the hard part
By Jonathan BermanJune 26, 2026
2 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
1 day ago
Current price of oil as of June 25, 2026
Personal Finance
Current price of oil as of June 25, 2026
By Joseph HostetlerJune 25, 2026
1 day ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
8 hours ago
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
Economy
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
18 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.