Trump Plans To Impose Tariffs On Auto Imports, Semiconductors, & Drugs

Trump also he wanted to give time for potentially affected companies to bring their factories to America to avoid tariffs.

President Trump announced plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States.

The president recently enacted a 10% across-the-board tariff on goods coming from China and 25% tariffs on all steel and aluminum imports.

For tariffs on semiconductor chips and drugs, Trump said he intends to eventually increase the rate even more, adding “it’ll go substantially higher over a course of a year.”

Trump also said that he wanted to give time for potentially affected companies to bring their factories to America to avoid tariffs. However, the new tariffs could come as early as April 2.

The move highlights trump’s push for a more “balanced” trade with foreign markets and to bring industries to American soil.