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Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

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1

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

2

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens

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Current price of oil as of May 29, 2026
TechElectric vehicles

Trump says he’d hit cars made in Mexico by Chinese companies with 100% tariff, brushes off retaliation by Beijing: ‘You screw us and we’ll screw you’

By
Hadriana Lowenkron
Hadriana Lowenkron
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Bloomberg
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Hadriana Lowenkron
Hadriana Lowenkron
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March 16, 2024, 9:10 PM ET
Donald Trump  speaks to supporters during a rally at the Dayton International Airport on March 16, 2024 in Vandalia, Ohio.
Donald Trump speaks to supporters during a rally at the Dayton International Airport on March 16, 2024 in Vandalia, Ohio. Scott Olson/Getty Images

Donald Trump said he would hit cars made in Mexico by Chinese companies with a 100% tariff, double the levy he has previously said he would put on automobiles made south of the US border.

Trump addressed Chinese President Xi Jinping directly during a rally speech in Dayton, Ohio on Saturday when threatening the tariffs.

“Those big monster car manufacturing plants you are building in Mexico right now and you think you are going to get that — not hire Americans and you’re going to sell the car to us, no,” Trump said. “We are going to put a 100% tariff on every car that comes across the lot.”

Read more: Tesla-beating BYD and other Chinese carmakers using Mexico as back door poses ‘extinction-level’ threat to U.S. auto sector, warns trade group

He continued by saying it would be a “bloodbath” if he didn’t win this year’s US presidential election.

Earlier this month Trump threatened a 50% tariff on Chinese cars. He has also proposed tariffs of as much as 60% on all Chinese goods and 10% on goods made anywhere in the world. He said he’s not worried about retaliatory measures from China or other countries.

“You screw us and we’ll screw you,” he said. “It’s very simple, very fair.”

Trump clinched the Republican Party’s nomination Tuesday night, allowing him to fully turn his attention toward a rematch with President Joe Biden in November. Biden on Tuesday won enough delegates for the Democratic nomination.

The former president, despite facing four criminal cases, has only tightened his grip on the GOP in his third White House run. The Republican National Committee is now helmed by three close allies, including his daughter in-law Lara Trump as co-chair. The shakeup saw more than 60 staffers fired on Monday.

Trump’s rally on Saturday took him to a once-traditional swing state where his populist message brought him easy victories in the 2016 and 2020 presidential elections.

This year, Ohio also hosts a Senate race that will be critical to Democratic hopes of retaining control of the chamber. Republicans face a three-way contest in the state’s March 19 primary for a candidate to take on Democrat Sherrod Brown in the general election.

Trump has endorsed tech executive Bernie Moreno for the Senate seat, putting him at odds with Republican Ohio Governor Mike DeWine, who has backed Matt Dolan, a moderate who didn’t seek Trump’s support. Ohio Secretary of State Frank LaRose is also running.

Moreno, who attended Saturday’s rally, called Trump a “great American.” Trump also took a swipe at Dolan, calling him “the next Mitt Romney” and claiming he is embracing “woke left lunatics.”

Trump demonstrated his hold on Ohio Republicans in the Senate race two years ago when he backed JD Vance, propelling him to a come-from-behind win in the GOP primary and a victory in the general election.

Join our exclusive webinar on May 28, featuring tech leaders from Orange, Mars, Reckitt, and Saint-Gobain. Apply to attend and receive Fortune’s editorial takeaways.
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