Trump proposes 25% tariffs for automobiles, prescribed drugs and semiconductors that would get even greater
US President Donald Trump speaks on February 18, 2025 in Mar-Lago in Palm Beach, Florida, USA.
Kevin Lamarque | Reuters
President Donald Trump said that he could include the scope of the US tariffs for imports about automobiles, pharmaceuticals and semiconductors.
In the comments on reporters on Tuesday, Trump said the tasks would be around 25% and “would go very higher for over a year”. The president did not indicate whether the new tariffs would apply to all vehicles that come to the USA or are aimed at certain countries, but said they could start on April 2.
However, the threat represents an expansion of the aggressive trade policy of the administration, which already contained 25% tariffs for steel and aluminum imports that are to be effective in March.
The nations with the biggest autoxports in the USA are Mexico, Japan and Canada.
Trump said
“I was contacted by some of the world's largest companies, and because of what we do economically and through tariffs and incentives, they want to return to the USA,” he said.
“If you return to the United States and have your plant or factory here, there is no tariff,” added Trump. “So we want to give you a little chance.”
In the drugs, the nations are the greatest influence that Japan and India would probably be. The economic effects would be unclear, although the tariffs could make the costs worse and initially lead to a shortage.
“The tariffs could increase the drug prices for US patients, tighten the lack of drug supply and the manufacturers are pushing to look for alternative markets,” said Ophelia Chan, Senior Business Fundamental's analyst at Globaldata. Chan also found that companies in the industry “may react by moving production and attempts to the USA or other customsized countries, although the full effects are still uncertain”.
For semiconductors, Trump did not show when they would happen. These taxes would have an impact Taiwan Semiconductorthe company, including chips, is available Nvidia And Apple.
Comments are closed.