In-town pool report #12: Auto tariffs continued

Trump spoke from behind the resolute desk

"This will continue to spur growth like you haven't seen."

No tariff if cars are built in U.S.

"Others will come into our country and build, and they're already looking for sites."

"You're going to see prices going down, but going to go down specifically because they're going to buy what we're doing, incentivizing companies to — and even countries — companies to come into America."

25% tariff also on light trucks

Expect $100B new annual revenue to U.S. from the tariffs, per staff secretary

Going to do tariffs on pharmaceuticals

"this is going to lead to construction of a lot of plants — auto plants in particular."

Officials present include Peter Navarro, Karoline Leavitt, House Speaker Mike Johnson, Chief of Staff Susie Wiles, Commerce Sec. Howard Lutnick

More to come.

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Shira Stein

Washington correspondent

The San Francisco Chronicle

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