President Donald Trump stated that he would expand the range of U.S. import duties to include semiconductors, cars, and medications.
The duties will be about 25% and “go very substantially higher over a course of a year,” Trump told reporters Tuesday.
The president stated that the new tariffs might begin as early as April 2 but did not specify whether they would be applied to all vehicles entering the United States or only to specific nations.
But the threat is part of the administration’s hardline trade agenda, which already includes 25% tariffs on imports of steel and aluminium that are scheduled to go into force in March.
Source (CNBC)
