Trump signals 25 percent tariffs coming on cars, semiconductors and pharmaceuticals
President Trump on Tuesday indicated he would unveil tariffs on imports of automobiles, semiconductors and pharmaceuticals in early April, starting at 25 percent.
Trump told reporters at Mar-a-Lago that he would likely announce the tariffs on April 2, and he indicated the duty on auto imports would be “in the neighborhood of 25 percent.”
Asked about tariffs on semiconductors and pharmaceuticals, Trump said it would be “25 percent and higher, and it’ll go very substantially higher over the course of a year.”
“But we want to give them time to come in,” Trump added. “Because as you know when they come into the United States and they have their plant or factory here, there is no tariff. So we want to give them a little bit of a chance.”
Trump has been ramping up his use of tariffs since taking office, despite warnings from many economists that imposing tariffs on imports could lead to higher prices for American consumers.
The president signed off on 25 percent tariffs on Mexican and Canadian imports earlier this month, but ultimately delayed them for a month after those two countries took actions to address the flow of drugs at the border.
Trump has also imposed tariffs on Chinese imports, along with tariffs on steel and aluminum imports.
Last week, Trump signed a memorandum proposing reciprocal tariffs on other countries to match tariffs and duties they place on American goods. Those tariffs will go into effect in the coming weeks, giving other nations a chance to negotiate a deal with the Trump administration.
-
Trump threatens 25% tariffs on auto, semiconductor, pharmaceutical imports
President Donald Trump said Tuesday that he will likely impose tariffs of 25% or more on imports of cars, semiconductors and pharmaceutical products.MarketWatch - 1d -
Trump says 25 percent tariffs on steel and aluminum coming Monday
President Trump said he will announce 25 percent tariffs on steel and aluminum on Monday, adding that he would also kick off reciprocal tariffs in the days after. Trump said that the steel and ...The Hill - Feb. 9 -
Trump weighing 25 percent lumber tariffs
President Trump is considering imposing a 25 percent tariff on international lumber and wood products, looking to add another item to an expanding list of products under duties. "I'm going to be ...The Hill - 3h -
Trump considers 25% tariff on imported cars
US president threatens to intensify trade war with additional levies on drugs and semiconductorsFinancial Times - 1d -
Trump suggests 25% tariffs on autos, pharma and semiconductors that could go even higher
In remarks to reporters Tuesday, Trump said the duties would be around 25% and "go very substantially higher over a course of a year."CNBC - 1d -
Trump to announce 25% aluminium and steel tariffs as China’s levies against US come into effect
US president accused of ‘shifting goalposts’ by premier of Ontario for adding further tariffs on top of existing metal duties, as China’s fossil fuel levies come into force. Donald Trump has said ...The Guardian - Feb. 10 -
Trump to announce a 25% blanket tariff on steel and aluminum
President Donald Trump said that he'll announce reciprocal tariffs, including 25% on steel and aluminum imports amid trade disputes with Canada, Mexico and China.NBC News - Feb. 9 -
Trump to Impose 25% Tariffs on Steel and Aluminum
The president said he planned sweeping tariffs on all steel and aluminum imports on Monday and would take other action to even out tariff rates with the rest of the world later this week.The New York Times - Feb. 10 -
Trump to impose 25% tariffs on steel and aluminium imports
President’s plans hit shares of some European and Asian producers while bumping up US companiesFinancial Times - Feb. 10
More from The Hill
-
2 students arrested for allegedly plotting 'mass casualty attack' at Houston school, FBI says
Two high school students have been arrested for planning what authorities are calling a “mass casualty attack” at a Houston high school.The Hill - 36m -
IRS lays off 6,700 employees, torpedoing Democratic enforcement boost
The IRS fired 6,700 employees on Thursday, a government official told NewsNation, the sister television network of The Hill. The employees were designated as probationary, meaning they were working ...The Hill - 38m -
Trump administration to investigate California high-speed rail project
Federal officials will be investigating California's high-speed rail plans, with the goal of determining if a portion of the project merits $4 billion in taxpayer funds, the Department of ...The Hill - 50m -
Integrating Russia into the Western security framework is key to long-term stability
The West must make a difficult but necessary choice: to work towards a security order that includes, rather than isolates, Russia.The Hill - 1h -
New York sues major vape companies for targeting kids, teens
New York is suing some of the largest vape distributors for allegedly fueling the country’s youth vaping epidemic. New York Attorney General Letitia James announced the lawsuit against 13 major ...The Hill - 1h
More in Politics
-
Senate confirms Kash Patel as FBI director in 51-49 vote
The Senate confirmed Kash Patel to serve as director of the FBI, approving a key ally of President Trump to lead the bureau.CBS News - 10m -
Senate confirms Kash Patel as FBI director in 51-49 vote
The Senate confirmed Kash Patel to serve as director of the FBI, approving a key ally of President Trump to lead the bureau.CBS News - 10m -
2 students arrested for allegedly plotting 'mass casualty attack' at Houston school, FBI says
Two high school students have been arrested for planning what authorities are calling a “mass casualty attack” at a Houston high school.The Hill - 36m -
IRS lays off 6,700 employees, torpedoing Democratic enforcement boost
The IRS fired 6,700 employees on Thursday, a government official told NewsNation, the sister television network of The Hill. The employees were designated as probationary, meaning they were working ...The Hill - 38m -
Trump administration to investigate California high-speed rail project
Federal officials will be investigating California's high-speed rail plans, with the goal of determining if a portion of the project merits $4 billion in taxpayer funds, the Department of ...The Hill - 50m