In his joint address to Congress March 4, President Donald Trump said he wants to make interest payments on loans for vehicles made in the USA tax deductible, but experts are unclear which cars that policy would apply to since all automakers rely on parts from outside the U.S.

Get all the news you need in your inbox each morning. “You’d start with all countries,” Trump told reporters Sunday night aboard Air Force One. “There’s not a cutoff.”  Trump’s remarks provided clarification on the scope of the tariffs after Treasury Secretary Scott Bessent recently said the 15% of nations with persistent trade imbalances with the U.

President Donald Trump is preparing to announce a sweeping round of new tariffs on imports set to take effect Wednesday, which he has dubbed “Liberation Day.” Details of what could amount to a major escalation in Trump’s global trade war are expected to be released in the coming days.