A Trump administration will take steps to help revive auto parts businesses that have been shuttered since the Great Recession, but the Republican presidential nominee says he is not backing away from plans to boost auto parts imports.
“We are not withdrawing from the auto parts industry,” Trump said Monday in an interview with The Associated Press.
“I am not going to be going in a vacuum.”
The U.S. trade deficit with China has grown by nearly $1 trillion since the election.
“It’s going to get worse, it’s going get worse before it gets better,” Trump added.
“That’s not me saying this, that’s not my decision.
But I will tell you that we are going to look at things in a very different way.”
The trade deficit was a major factor in Trump’s loss to Democratic presidential nominee Hillary Clinton in November.
“When you have the biggest trade deficit in the world with China, you are not going do well,” Trump told The AP in an early-morning interview.
Trump also said he is considering an increase in the amount of money that auto parts makers get for making parts for his planned new car.
“A lot of people have been talking about that and I am going to do that,” he said.
Trump said the auto industry will likely see a boost in business if he implements his plan to give the industry more incentives.
“The auto industry has been doing a fantastic job, but they are going through a terrible time right now,” he added.
The president-elect also said that the U.N. agency that regulates automakers and auto parts manufacturers should focus on the problems of the auto makers rather than their business model.
“My focus right now is going to the auto companies.
I’m not going after them, I’m going after the companies that are doing the jobs that are being created and doing the good work,” Trump stated.
The auto parts and auto-related industries were also one of the first industries to experience a steep decline in business after the recession.
“There was a lot of uncertainty,” said Kevin O’Connor, president of the International Automotive Manufacturers Association.
“You had a lot going on with the auto sector, the auto bailout, the global financial crisis.
Now, things are going back to normal.”