Peter Navarro, the U.S. President's trade advisor, revealed plans for the United States to collect $6 trillion in tariffs over the next decade as part of a strategy to boost federal treasury revenues.

In a press statement, Navarro said, "The White House expects to support the federal budget by approximately $100 billion annually after increasing tariffs on cars. The administration also aims to offer tax exemptions and preferential loans to buyers of American cars through a bill requiring congressional approval."

U.S. President Donald Trump had previously announced a 25% tariff on imported cars and light trucks, effective April 2, 2025, in a move aimed at protecting domestic industry and reducing the trade deficit.

Trump also threatened the European Union and Canada with additional tariffs if either party took economic measures that could harm the United States.