Trump plans to impose 25% tariffs on autos, chips and pharmaceuticals
CNN
President Donald Trump said on Tuesday that he plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States as early as April 2.
President Donald Trump said on Tuesday that he plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States as early as April 2. Trump recently enacted a 10% across-board-tariff on goods coming from China and 25% tariffs on all steel and aluminum imports. For tariffs on semiconductor chips and drugs, he told reporters at his resort in Mar-a-Lago, Florida that he intended to eventually increase the rate even more. “It’ll go substantially higher over a course of a year,” he said. But he added that he wanted to give time for potentially affected companies to bring their factories to America to avoid tariffs. “We want to give them a little bit of a chance,” he said. The revelation comes days after Trump ordered an investigation into other nations’ tax and tariff policies, paving the way for new reciprocal tariffs to take effect as soon as April 2, the day after the investigation is set to conclude, Howard Lutnick, Trump’s pick for Commerce Secretary said last week.
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President Donald Trump said on Tuesday that he plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States as early as April 2.
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