Peter Navarro, Senior Counselor for Trade and Manufacturing to United States President Donald Trump, stated on Sunday that tariffs imposed by the administration are expected to generate approximately $700 billion annually. Speaking to Fox News, Navarro broke down the figure, attributing around $100 billion to car tariffs and the remaining $600 billion to other tariff categories.

Navarro emphasized that the Trump administration will ensure these tariffs do not result in higher domestic prices. He claimed that foreign car manufacturers will absorb most of the costs and lower their prices in order to maintain access to the US market. “They’re not going to eat us alive anymore,” he said, asserting that the administration’s trade policies are aimed at leveling the playing field.

He further announced that the administration plans to introduce significant tax benefits and credits for consumers who choose to buy American-made cars. These measures are expected to be part of the next tax bill to be passed by Congress, which Navarro described as “the biggest tax cut in American history for the middle class.”

Highlighting the broader impact of the tariff strategy, Navarro predicted that more than 1 million new jobs will be created in the US auto industry as a direct result of the administration’s policies. He insisted that rebuilding the country’s manufacturing base is central to the long-term economic vision laid out by President Trump and his team.

The remarks come amid continued debate over the effectiveness and consequences of tariffs. While some critics argue that such measures may lead to price hikes and trade tensions, the Trump administration maintains that the strategy will boost domestic industry and strengthen the economy without burdening American consumers.