Trump Plans to Impose 25% Tariffs on Cars, Medicines, and Chips
7
World
February 19, 2025 08:03
palm beach, usa - President Trump announces intention to impose tariffs on cars, semiconductors, and pharmaceutical imports, aiming for around 25%.
Trump's Plan for Import Tariffs
President Donald Trump stated his plan to impose import tariffs, around 25%, on cars, semiconductors, and pharmaceutical imports. The tariffs on cars are set to be implemented on April 2nd. Trump has been vocal about addressing what he perceives as unfair treatment of American auto exports in foreign markets. For instance, the European Union imposes a 10% tariff on vehicle imports, while the US charges 2.5% for passenger cars. Additionally, the US levies a 25% import tariff on pick-up trucks from countries other than Mexico and Canada, making them highly profitable for American automakers.
On Friday, Trump mentioned that the tariffs on cars would be enforced starting April 2nd. A day earlier, his cabinet members are expected to present him with options for a series of import duties. The move is part of Trump's strategy to address trade imbalances and protect American industries.