United States President Donald Trump has announced plans to impose a 25% tariff on imported automobiles, along with steep duties on pharmaceuticals and semiconductor chips.
"I probably will tell you that on April 2, but it'll be in the neighbourhood of 25%," Mr. Trump told reporters at Mar-a-Lago, in Palm Beach, Florida.
The announcement was reported by multiple news outlets, including EconoTimes, Newsbytesapp, and CBS News.
This move is part of his broader trade agenda aimed at reshaping global trade dynamics.
Trump has long criticised foreign tariffs on U.S. automotive exports, particularly the European Union’s 10% vehicle import duty. This is four times the U.S. passenger car rate.
The proposed auto tariffs are expected to take effect as early as 2 April, following reports from his cabinet outlining tariff options.
Trump's decision aligns with his strategy to encourage companies to manufacture in the U.S. to avoid penalties.
Tariffs have been part of Trump's measures since taking office. These include tariffs on Chinese imports and steel and aluminum imports.
This latest move has significant implications for global trade and could heighten tensions with trade partners.
