Trump tells CEOs tariffs may go above 25%

WASHINGTON, March 11 (Reuters) - President Donald Trump told CEOs of major companies on Tuesday that new tariffs may go higher than 25%.

"The tariffs are having a tremendously positive impact," Trump told the Business Roundtable, brushing off the stock market reaction. He said they may rise above 25%. "The higher it goes the more likely it is they're going to build" in the United States.

He also defended Tesla TSLA.O CEO Elon Musk, who is leading a White House effort to shrink the federal government. "We've had some little hiccups, not big hiccups, but we saved a tremendous amount of money," Trump said.