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Trump to sign executive order on auto tariffs today! Harsh attack on Amazon
2025-04-29 17:04:10 / BOTA
"Today officially marks 100 days of promises that President Trump made and kept," White House spokeswoman Caroline Leavitt said at a press conference marking 100 days of Trump's second term, accompanied by Treasury Secretary Scott Besant.
"This was truly the most historic start to a presidency in American history. After building the strongest economy in the world during his first term, President Trump is in the process of rebuilding it. The American people trust President Trump," she said.
She described Trump as America's "chief entrepreneur" and stressed that more than 100 countries have come to the negotiating table to offer more favorable terms to the US after the US president imposed tariffs.
Livit also announced that Donald Trump will sign an executive order on auto tariffs today, with the aim of mitigating their impact on the US auto industry.
Taking the floor, the Treasury Secretary was asked about the purpose of Trump's tariffs, after the latter has stated that he wants to replace the income tax with tariff revenue. He replied that the purpose is twofold: to secure "long-term customs revenue" and to conclude trade agreements.
According to Besent, Asian countries, including India, Japan and South Korea, are “more willing” to negotiate trade deals. He stressed that there will be an announcement on India soon, citing Vice President JD Vance’s visit last week, during which “significant progress” was made with Prime Minister Narendra Modi.
He added that he "can see the outlines of an agreement" with South Korea and that he has had "substantive talks" with Japan.
Asked about the US trade war with China, he said talks were underway with officials in Beijing – but gave no further details. He predicted that China would be forced to back down, saying the tariffs were “unsustainable” for Beijing. He added that he had seen statistics showing that China could quickly lose 10 million jobs – and that even with the tariffs reduced, it could lose five million jobs.
Livit condemns Amazon's "hostile and political" action
Regarding Amazon's plans to display the additional cost of Trump's tariffs next to its products, Levy condemned the move, calling it "a hostile and political act."
“Why didn’t Amazon do this when the Biden administration drove inflation to its highest levels in 40 years?” she asked. However, she added that it was “not a surprise” after a recent Reuters article about Amazon’s collaboration with a “Chinese propaganda wing.”
“But I can tell you that this is definitely a hostile and political act by Amazon,” Levit added.
USA – the main destination for domestic and foreign investments
The Treasury Secretary also spoke about businesses returning to the US, saying the Trump administration aims to give them "great certainty."
"I think it's very likely that we'll get this tax bill through, and it's going to be very strong for domestic American investment," he said.
Besent also called on business leaders to "bring back their factories."
“You can spend completely on equipment and buildings, and we will combine this with deregulation, free energy and regulatory certainty,” he added.
"This will keep the US as the most important destination for domestic and foreign investment."
“Relocation is not something you can do in 100 days,” he concluded.
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