U.S. President Donald Trump announced plans to impose 25% tariffs on automobiles, semiconductors, and pharmaceuticals as part of his effort to reshape global trade. He stated that the tariffs on automobiles could begin as early as April 2.
Trump has long criticized the treatment of U.S. automotive exports in foreign markets, particularly the higher tariffs in the European Union, and aims to push the EU to lower them to match U.S. rates. He also intends to impose high tariffs on pharmaceuticals and semiconductor chips, starting at 25% and increasing over time, encouraging companies to set up U.S. factories to avoid these tariffs.
Additionally, Trump has already implemented 10% tariffs on all imports from China and announced plans to impose 25% tariffs on goods from Canada and Mexico, which were delayed by a month. He will also apply 25% tariffs on all steel and aluminum imports from March 12.
