Trump Says Tariffs Drive Foreign Automakers to Build Plants in U.S.

By Song Sang-ho

WASHINGTON, July 6 (Yonhap) -- U.S. President Donald Trump reiterated Monday that his tariff policy has driven South Korean, Japanese and German automakers to build their factories in the United States, as his administration has been using duties to restore American manufacturing.

Trump made the remarks during a White House event celebrating the launch of "Trump Accounts," new investment accounts for children.

"We've never built as many automobile plants. They are all over, and they are coming from all over the world. You know why? Because they don't want to pay tariffs. If they build their cars here, they pay no tariffs," he said.

"So Japan, instead of making them in Japan ... or South Korea ... instead of making them in Germany ... They are all building plants here now."

Since his return to the White House last year, Trump has been leveraging tariffs as a key policy tool to revitalize America's manufacturing, increase foreign investment and reduce trade deficits.

Amid Trump's tariff pressure, South Korean conglomerate Hyundai Motor Group announced last year that it would invest US$26 billion in the U.S. through 2028.

On Iran, Trump said that the U.S. will either make a deal with the Islamic Republic or "finish the job," stressing that the U.S. "will win one way or the other."

"It won't be tough to finish the job. I would rather make a deal because I don't want to affect 91 million people," he said. "We can knock down their bridges in one hour. We can knock out their energy supply."

Commenting on the Russia-Ukraine war, Trump said that both Moscow and Kyiv want to end the war. He also voiced optimism, saying, "I think we are getting much closer (to ending the war) than people realize."

"I think (Putin) does feel pressure. He wants to end it and Ukraine wants to end it, and we are in talks, and we will see if we can get it ended."

Trump plans to have bilateral talks with Ukrainian President Volodymyr Zelenskyy on the margins of the North Atlantic Treaty Organization summit set to take place in Ankara, Turkey on Tuesday and Wednesday.