Trump says companies that do not build factories in US face tariffs up to 300%
Version 2: New Korean coverage adds the size of the Alaska LNG investment at issue — $54 billion, about 72 trillion won — and Trump's remark that he would double it if Korea does not agree, along with business-press framing of the tariff comments as investment pressure on allies.
In short
Donald Trump told a rally in Ohio that foreign companies get about a year and a half to build factories in the United States, or face tariffs of 150% to 300%. He said companies are ultimately building in the US and the country is securing trillions of dollars, and named China, Japan, Korea and Canada as countries that had long used tariffs against the US. The day before, he said Korea could be charged more; Chosun Ilbo reported he was referring to a $54 billion Alaska LNG investment and said he would “double it up” if Korea does not agree.
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Donald Trump said at a campaign rally in Ohio on October 3 local time that foreign companies would be given about a year and a half to build factories in the United States and that those that do not would face tariffs of 150%, 200%, 250% and 300%, according to Yonhap, Maeil Business, Seoul Economic Daily and NoCut News. “In the end they are all building here,” he said, adding that the approach was simple and had been carried out at a level no one had seen before, and that the United States was securing trillions of dollars through it. [ 1 , 3 , 4 , 5 ]
Trump said China, Japan, Korea and Canada had long used tariffs against the United States and that “we have been a laughingstock,” an argument the outlets described as his justification for the tariff policy. He spoke at a high school in Ohio, the first closely contested state he has visited since starting a nationwide campaign tour on October 1. Yonhap reported that his earlier stops, Oklahoma and Alabama, are Republican-leaning in Senate polling, while Ohio — where Republican incumbent Jon Husted and Democrat Sherrod Brown are described as running within the margin of error — is seen as a key state for Republicans to keep their Senate majority. [ 1 , 3 , 4 , 5 ]
Addressing Ohio voters, Trump said he had won the state in the 2016, 2020 and 2024 presidential elections and received the most votes in its history, and said “radical left Democrats” must be defeated again in the midterms. He said that if Republicans win, each person would have $5,000 in their pocket and the country would enjoy unprecedented economic success, and that he believed the country would have been destroyed if he had lost the previous election and Kamala Harris had won. [ 1 , 3 , 4 , 5 ]
The day before, Trump said Korea could be “charged more” if it does not invest in an Alaska liquefied natural gas project, remarks Yonhap, Maeil Business and NoCut News reported as suggesting the possibility of higher tariffs. Chosun Ilbo put the Korean investment at $54 billion, about 72 trillion won, and reported that Trump said he would “double it up” if Korea does not agree. [ 1 , 3 , 5 , 7 ]
Korean business outlets framed the remarks as pressure on allies. A second Maeil Business report described Trump as pressing allies including Korea with tariffs of up to 300% over investment, and Chosun Ilbo said the rally came with less than a month left before the midterms, as his approval rating fell to a record low, and that he was pushing allies regardless of their pushback. [ 6 , 7 ]
Why it matters
The remarks were made at a campaign rally rather than in a policy document, but they repeat a direct condition for exporters: build in the United States or face tariffs that Trump put as high as 300%. Korea is named among the countries Trump says used tariffs against the US, and the earlier Alaska LNG comment ties the same pressure to Korean energy investment. The documents give no indication of how or when such tariffs would be applied.
Key facts
- Trump made the remarks at a rally at a high school in Ohio on October 3 local time. [ 1 , 3 , 4 , 5 ]
- He said foreign companies are given about a year and a half to build factories in the US, and that tariffs of 150%, 200%, 250% and 300% would be imposed otherwise. [ 1 , 2 , 3 , 4 , 5 ]
- Trump said companies are ultimately all building in the US and that the US is securing trillions of dollars through the policy. [ 1 , 3 , 4 ]
- He named China, Japan, Korea and Canada as countries that had long used tariffs against the US and said the US had been a laughingstock. [ 1 , 3 , 4 , 5 ]
- The Ohio visit was his first to a closely contested state since starting a nationwide campaign tour on October 1. [ 1 , 3 , 5 ]
- Ohio's Senate race between Republican incumbent Jon Husted and Democrat Sherrod Brown is described as within the margin of error and a key state for Republicans to keep their Senate majority. [ 1 , 3 , 4 , 5 ]
- Trump said he won Ohio in the 2016, 2020 and 2024 presidential elections with the most votes in the state's history, and that if Republicans win each person would have $5,000 in their pocket. [ 1 , 3 , 4 , 5 ]
- Trump said the day before that Korea could be charged more if it does not invest in an Alaska LNG project; Chosun Ilbo put the investment at $54 billion, about 72 trillion won, and quoted him saying he would “double it up” if Korea does not agree. [ 1 , 3 , 5 , 7 ]
Confirmed by several sources
- Trump said at the Ohio rally that foreign companies get roughly a year and a half to build factories in the US or face tariffs of up to 300%. [ 1 , 3 , 4 , 5 ]
- Trump said companies are ending up building in the US and that the US is securing trillions of dollars. [ 1 , 3 , 4 ]
- Trump said the US had long been a laughingstock while other countries, including China, Japan, Korea and Canada, used tariffs against it. [ 1 , 3 , 4 , 5 ]
- The Ohio visit was his first to a closely contested state since starting a nationwide campaign tour on October 1. [ 1 , 3 , 5 ]
- Ohio's Senate contest between Republican incumbent Jon Husted and Democrat Sherrod Brown is described as a close race within the margin of error and a key state for the Republican Senate majority. [ 1 , 3 , 4 , 5 ]
- Trump said that if Republicans win, each person would have $5,000 in their pocket and the country would see unprecedented economic success. [ 1 , 3 , 4 , 5 ]
Still unclear
- Whether the 150%–300% tariff threat is a formal policy plan or campaign rhetoric. The documents describe it only as a statement made during a campaign rally; no policy document, effective date or mechanism is given.
- Which companies or products the threatened tariffs would apply to. The documents list countries Trump says used tariffs against the US but do not specify which firms or goods would be targeted.
- Whether the remark about Korea and the Alaska LNG project implies new tariffs on Korea. Yonhap, Maeil Business and NoCut News report only that he suggested Korea could be “charged more”; Chosun Ilbo reports the “double it up” wording and the $54 billion figure alone, and no outlet reports a decision by Korea or the US.
- The exact city where the rally took place. The articles say only that the rally was at a high school in Ohio.
- That Trump's approval rating has fallen to a record low. Only Chosun Ilbo reports this, without giving a figure or a source for the polling.
What local media are saying
Timeline, local time
- Yonhap publishes its report on Trump's October 3 remarks at an Ohio high school rally, including the 150–300% tariff figures. [ 1 ]
- Korea Economic Daily carries a headline reporting Trump's remark that companies would get about a year and a half to build factories in the US. [ 2 ]
- Maeil Business reports the remarks as pressure on foreign firms in the midterm battleground state, adding the context of the Husted–Brown Senate race. [ 3 ]
- Seoul Economic Daily reports the remarks and Trump's criticism that other countries, including Korea, had used tariffs against the US. [ 4 ]
- NoCut News summarises the rally remarks and the previous-day Alaska LNG comment. [ 5 ]
- A second Maeil Business report describes pressure on allies including Korea over investment. [ 6 ]
- Chosun Ilbo reports the $54 billion Alaska LNG investment figure and Trump's remark that he would “double it up” if Korea does not agree, along with his falling approval rating. [ 7 ]