Trump Defends Tariffs as Kilmeade Questions Economic Impact Amid Iran Conflict

President Donald Trump defended his tariff strategy during a Tuesday morning appearance on Fox News, rejecting concerns that his latest round of import duties could further strain the U.S. economy as the conflict with Iran continues.
The exchange came during an interview on Fox & Friends, where co-host Brian Kilmeade questioned the president about the potential economic consequences of the administration’s trade policies as temporary tariffs are set to expire.
Trump’s current 10% global tariffs are scheduled to end later this week and will be replaced by a new round of broad tariffs ranging from 10% to 12.5% on U.S. trading partners that account for roughly 90% of American imports.
Kilmeade raised the issue by pointing to the economy and recent political developments.
“So Mr. President, with the economy, that’s gonna be a focus. I want you to focus… yesterday in the midterms in Michigan — are you worried that the tariffs that you put forward over the last couple of days will hurt the economy as they adjust in bringing manufacturing home?” Kilmeade asked.
Trump dismissed the concern, arguing that tariffs have generated substantial revenue while encouraging companies to invest in manufacturing inside the United States.
“No, because it’s bringing hundreds of billions of dollars,” Trump responded.
The president pointed to a recent visit to General Motors, saying the automaker is experiencing a strong year and crediting tariffs with helping the company.
“I was at General Motors yesterday. They have the best year, they have the most trucks, the most cars. The tariffs have saved General Motors,” Trump said.
He expanded on that argument by highlighting investments in semiconductor manufacturing, saying major chip companies are building facilities in Arizona.
“What I’ve done to the auto business, what I’ve done to the chip business — we have chip companies now making, building hundreds of millions of dollars’ worth of chip plants in Arizona,” Trump said. He added that what he described as the largest chip company in the world is constructing a $400 billion plant and predicted the United States would capture between 40% and 50% of the chip industry within a year and a half after previously having virtually none.
Trump also addressed the legal challenges surrounding his tariff policy, saying he has been forced to pursue a more complicated approach after a Supreme Court ruling.
“I mean, it’s a shame that I have to go a harder way for the tariffs because the Supreme Court, in a very close decision, ruled against me,” Trump said. “Now, I have other ways of doing the same thing, but it’s a more cumbersome way of doing it.”
The president maintained that tariffs have benefited the country economically and also claimed they have served as a diplomatic tool.
“But the tariffs have made this country a fortune. It made the country rich,” Trump said. He also said tariff threats helped stop multiple wars, including preventing India and Pakistan from entering a nuclear conflict.
Trump further argued that manufacturers are expanding operations in the United States to avoid paying tariffs, citing Toyota’s announcement that it would build $12 billion worth of plants in the country rather than in Mexico.
Kilmeade later asked whether the president planned to update the United States-Mexico-Canada Agreement.
“So the USMCA — are you looking to update that?” the Fox News host asked.
Trump indicated he has little interest in revisiting the agreement.
“I don’t care. I mean, I don’t really want to. I’d rather be independent,” Trump said. “Here’s the thing: Mexico and Canada need us, we don’t need them. The deal is important for them, it’s not important for us.”