Trump floats 25% tariffs on US auto, drug, chip imports

Trump didn't specify whether the measures will target specific nations or apply to all vehicles imported to US

- Bloomberg

U.S. President Donald Trump said he would likely impose tariffs on automobile, semiconductor and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the president's trade war.

Trump has previously announced 25% tariffs on steel and aluminum that are set to take effect in March. Tuesday's comments are his most detailed yet in specifying other sectors to be hit with fresh barriers if implemented.

"I probably will tell you that on April 2, but it'll be in the neighborhood of 25%," Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs.

Asked about similar levies on pharmaceutical drugs and semiconductor chips, the president said: "It'll be 25% and higher, and it'll go very substantially higher over a course of a year."

Trump said he wanted to give companies "time to come in" before announcing new import taxes.