Trumps Unwelcome News to Auto Chiefs: Buckle Up for Whats to Come

The line fell silent.In a phone call from the Oval Office, President Trump had just delivered unwelcome news to three of America’s most powerful auto executives: Mary Barra of General Motors, John Elkann of Stellantis and Jim Farley of Ford.Everyone needs to buckle up, Mr.Trump said on the call, which took place in early March.

Tariffs are going into effect on April 2.It’s time for everyone to get on board.The auto chiefs, like the leaders of other industries, had been arguing that Mr.

Trump’s 25 percent tariffs on cars coming from Canada and Mexico would wreak havoc on their supply chains and blow a hole through their industry.They had won a concession of sorts when Mr.

Trump agreed to give them a one-month reprieve, until April 2.But now, the Big Three automaker chiefs seemed to realize there was no point in fighting for more.They had gotten as much as they were going to get.For corporate America, including some major donors, the shock of Mr.

Trump’s second term is that it turns out he really does believe the thing he’s been saying publicly for 40 years: Foreign countries are ripping America off, and tariffs are a silver bullet for America’s problems.When he says that “tariff” is the most beautiful word in the dictionary, he means it.To Mr.

Trump, tariffs are not merely a negotiating tool.He believes they will make America rich again.

And they combine two of his favorite features of the presidency: They are a unilateral power that he can turn on or off on a whim, and they create a begging economy, forcing powerful people to come before him to plead for mercy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe....