U.S. President Donald Trump said on Tuesday he intends to impose auto tariffs “in the neighborhood of 25 per cent” and similar duties on semiconductors and pharmaceutical imports, the latest in a series of measures threatening to upend international trade.
On Friday, Trump said levies on automobiles would come as soon as April 2, the day after members of his cabinet are due to deliver reports to him outlining options for a range of import duties as he seeks to reshape global trade.
Trump told reporters on Tuesday that sectoral tariffs on pharmaceuticals and semiconductor chips would also start at “25 per cent or higher, and it will go very substantially higher over the course of a year.”
The steel tariffs were “signed” by Trump, due to take effect March 12, the general canada/mexico tarrifs were “signed” but then postponed, due to take effect March 4. He also last week signed a reciprocal tariff plan, I’ve not found a planned implementation date.
The auto and chips one are still just talk, but the former has been suggested to take effect April 2nd.