Trump says he will introduce 25% tariffs on autos, pharmaceuticals and chips
U.S. President Donald Trump said on Tuesday he intends to impose auto tariffs “in the neighborhood of 25%” 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.
Highlights:
- Trump says he will reveal more about 25% autos duty on April 2
- Pharma, chip firms may face tariffs above 25%, timing uncertain
- EU trade chief to meet with US officials on Wednesday
- Auto industry faced tariff probe in 2018, Trump passed on duties
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