Published February 19,2025
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U.S. President Donald Trump mentioned on Tuesday auto tariffs will probably be round 25% and he could have extra to share on the subject on April 2.
On Friday, Trump mentioned levies on vehicles would come as quickly as April 2, the day after members of his cupboard are on account of ship stories to him outlining choices for a spread of import duties as he seeks to reshape international commerce.
Trump has lengthy pointed to what he calls unfair therapy of U.S. automotive exports in overseas markets.
The European Union, for example, collects a ten% tariff on automobile imports, 4 instances the U.S. passenger automotive tariff fee of two.5%. The U.S., although, collects a 25% tariff on extremely worthwhile imported pickup vans.
Trump on Tuesday additionally mentioned sectoral tariffs on prescription drugs and semiconductor chips would additionally doubtless begin at 25% in April, with a minimum of some rising afterwards over the course of a yr.
Since his inauguration, Trump has imposed a ten% tariff on all imports from China, on high of present levies. He additionally introduced, after which delayed for a month, 25% tariffs on items from Mexico and non-energy imports from Canada.
He has additionally set a March 12 begin date for 25% tariffs on all imported metal and aluminum. Last week, he directed his financial staff to plan plans for reciprocal tariffs on each nation that taxes U.S. imports.
Source: www.anews.com.tr