Washington — On Tuesday, President Trump indicated that he might impose significant tariffs on auto imports, promising further details in early April.
“I’ll likely share more on April 2, but it should be around 25%,” he informed reporters at Mar-a-Lago in Palm Beach, Florida.
Additionally, he brought up potential tariffs on pharmaceuticals and semiconductor imports, suggesting they could reach “25% or higher, with substantial increases over the year.”
Trump expressed his intention to provide companies “some time” to establish factories in the U.S. before the new tariffs are implemented.
While he has threatened broad new tariffs, Trump claims they will ultimately enhance the U.S. economy, although he acknowledged possible short-term price increases for American consumers.
Currently, Trump has levied a 10% tariff on all imports from China and a 25% tariff on all steel and aluminum imports. Furthermore, he has sanctioned a 25% tariff on imports from Canada and Mexico, though he postponed these after both countries proposed measures to manage fentanyl trafficking across the U.S. border.
