On Tuesday, February 18, U.S. President Donald Trump announced plans to impose tariffs of approximately 25% on automobiles, as well as similar tariffs on the import of semiconductors and pharmaceutical products.
He made this statement while speaking with journalists at his Mar-a-Lago estate in Florida.
According to Trump, the tariffs on automobiles will take effect on April 2.
He added that sector-specific tariffs on pharmaceuticals and semiconductor chips would also start at “25% or higher,” with significant increases throughout the year. However, he did not specify a date for these tariffs and mentioned that he wants to give drug and microchip manufacturers time to build factories in the U.S. to avoid the tariffs.
Trump stated that he expects some of the world’s largest companies to announce new investments in the United States within the next few weeks.
When asked whether the European Union could avoid the reciprocal tariffs he proposed last week, Trump reiterated his claim that the EU had already indicated it would lower its tariffs on American cars to match U.S. levels—although EU lawmakers have denied this.
He also said he would pressure EU officials to increase imports of American cars and other goods.
As previously reported, on Monday, February 10, Trump imposed a 25% tariff on steel and aluminum imports to the U.S.
