Trump admin live updates: Trump says he'd 'love' to run against Obama in 2028

When asked about what Wednesday's sweeping tariffs set to go into effect on Wednesday would look like, Trump said that Americans would "see in two days."

Though Trump was light on specifics, he seemed to indicate that the tariffs might be lower than those imposed by other countries on the U.S.

"So, whatever they charge us, we charge them. But we're being nicer than they were,” he said. “We have a lot of countries, friend and foe. I always say friend and foe, but the friend in many cases is worse than the foe. They took advantage of us. And, we are going to be very nice by comparison to what they were. The numbers will be lower than what they've been charging us, and in some cases, maybe substantially lower."

When asked whether any countries might be exempt from the reciprocal tariffs, Trump said "it depends," and seemed to indicate he wouldn't target countries that had smaller trade deficits with the U.S.

Asked by ABC News' Karen Travers if he’s heard any concerns from automakers about the pending tariffs, especially after a meeting today with the chairman of Stellantis, Trump said no.

“Well, I gave them a big break for a month. I didn't charge them anything, you know, for a big month, for that first month, and they brought a lot of material into this country, because they could bring it in with that tariff,” Trump said.

Travers also pressed Trump on news that China, South Korea and Japan are working together to respond to U.S. tariffs, asking if he was concerned that the tariffs would push allies closer to China. Trump said he was not aware of that news, but did brush off the concerns.

-ABC News’ Michelle Stoddart

Despite the constitutional two-term limit, Trump mused about running against former President Barack Obama in the 2028 presidential election.

“Boy, I’d love that -- that would be a good one,” Trump said Monday

Trump has often mused, and even joked, about seeking a third term. On Sunday, he told NBC News’ Kristen Welker, "I'm not joking," about a third term.

On Monday, he downplayed a third term.

“No, people are asking me to run, and there's a whole story about running for a third term. I don't know, I never looked into it. They do say there is a way you can do it, but I don't know about that. But I have not looked
into it.”

Kid Rock was in the White House with Trump as he signed an executive order that charges the Federal Trade Commission and the Justice Department with cracking down on the ticket reselling industry.

“It's gotten worse and worse with time, and I didn't know too much about it, but I checked it out and it was a big problem,” Trump said, with Kid Rock standing alongside his desk. “And I thought, I think you've been trying to get this done for 20 years or something. He said, ‘Trump got it done in two weeks.’”

Trump met Monday at the White House with the chairman of one of the Big 3 automakers just days before he is expected to impose 25% tariffs on all imported cars and auto parts.

John Elkann, the chairman of Stellantis, met with Trump, according to sources familiar with the meeting. One source, without offering additional details or specifics, told ABC News that automakers appear to be "coming to the table."

Stellantis declined to comment on whether Elkann had a meeting with Trump.

On an investor and analyst call last week, Elkann expressed concern over how the auto tariffs would impact the price of cars.

"(It) made a very clear statement about the dialogue ongoing with the Trump administration, and the importance of the competitiveness of the integrated North American automotive sector," Elkann said. "But more importantly, the concern on the affordability of our products, our products made in America, and the implications on demand, on what will this uncertainty mean for demand in the United States of America."

Trump told NBC on Sunday that he "couldn't care less" if prices on foreign cars go up, because he says that Americans will reap the benefits of more production and more jobs in the United States.

-ABC News’ Katherine Faulders and Mary Bruce