US President Donald Trump said on Tuesday that he intends to put auto tariffs “in the neighborhood of 25%and implement similar duties on semiconductors and drug imports, which threatened to increase international trade The latest in a series. On Friday, Trump said that levy on automobiles would arrive soon on April 2, the day his cabinet members reported them to designing options for a series of import duties, as it reopening global trade Want Trump has long raised a long raid against unfair treatment of American motor vehicle exports in foreign markets.

For example, the European Union, collects 10 percent of duties on vehicle imports, is four times the American passenger car tariff rate of 2.5 percent. The US, however, collects 25 percent of tariffs on pickup trucks from countries other than Mexico and Canada, a tax that makes vehicles highly profitable for contemporary automakers.

The European Union’s trade head Maros Safkovic will meet with American counterparts – Commerce Secretary Howard Lutnik, Trump’s nominated American business representative Jaimison Greer and National Economic Council director Kevin Haset – Washington on Wednesday to discuss various tariffs threatened by Trump in Washington on Wednesday. For.

Asked whether the European Union could avoid proposed mutual tariffs last week, Trump reiterated his claim that the European Union had already indicated that it would reduce its tariffs on American cars to the US rate, although European Union MPs have refused to do so.

He said that he would suppress European Union officials to increase American imports of cars and other products.

Pharma, chips duty

Trump told reporters at his Mar-e-Lago Estate in Florida on Tuesday that the sectoral tariffs on pharmaceuticals and semiconductor chips would also start “25% or more”, which increases to a great extent during a year.

He did not give a date to announce the duties and said that he wanted to provide some time for drug and chip manufacturers to establish American factories so that they could avoid tariffs. Trump said he hopes that some of the world’s largest companies will announce new investment in the United States in the next few weeks. He did not give any further details.

Since its inauguration four weeks ago, Trump has imposed 10 percent tariffs on all imports from China, on top of the current levy, on the failure of China’s Fantenal smuggling. He also announced, and then delayed for a month, 25 percent tariff on goods from Mexico and non-energy imports from Canada.

They have also set the date of early 12 March for 25 percent tariffs on all imported steel and aluminum, ending discounts for Canada, Mexico, European Union and other business partners. Trump also announced that these tariffs would apply to hundreds of imported downstream products made of electricity and aluminum, from electrical condit tubing to bulldozer blades.

Last week, he directed his economic team to plan to implement mutual tariffs that match the tariff rates of product-by-product of every country.

Sheied Car Tariff

An auto import tariff of 25 percent will be a game-changer for a global auto industry that is already getting away from uncertainty due to Trump’s tariff drama.

A similar drama was played in 2018 and 2019 during Trump’s first term, when the Department of Commerce conducted a national security check in auto imports and found that they weakened the domestic industrial base. Trump threatened a 25 percent car tariff at that time, but eventually did not take any action, allowing the Tariff Authority to end with that investigation.

But some researches going in the 2018 investigation may be reused or updated as part of a new automotive tariff effort.