At his Mar-a-Lago estate in Florida on February 18, Donald Trump told reporters about plans to impose tariffs on imports of semiconductors and pharmaceuticals and automobiles.
At his Mar-a-Lago estate in Florida on February 18, Donald Trump told reporters about plans to impose tariffs on imports of semiconductors and pharmaceuticals and automobiles.
According to the new US president’s statement, industry tariffs on semiconductor chips and pharmaceuticals will also start at «25% or higher,» increasing significantly throughout the year, Reuters writes .
The car taxes will be implemented as early as April 2, the day after members of the president’s cabinet are due to provide Trump with reports outlining options for a range of import tariffs as he «seeks to transform global trade.»
The US president did not say when to expect tariffs on semiconductor chips and pharmaceuticals to increase, but added that he would like to give drug and chip makers some time to set up factories in the US so they can avoid the tariffs.
In addition, Trump expects to hear from the world’s largest companies about investments in the next few weeks. But he did not provide details.
