US President Donald Trump says new tariffs on imported cars, computer chips and pharmaceuticals will be around 25 percent.
“I’ll probably be able to tell you on April 2, but it will be close to 25 percent,” Trump told reporters at his Mar-a-Lago estate in Florida on Tuesday when asked what his upcoming plan for auto tariffs would entail.
He was also asked if there will be similar tariffs on imports of pharmaceuticals and computer chips, Bloomberg reports.
– It will be 25 percent and higher, and it could go significantly higher during the year, Trump replied.
About half of the cars sold in the United States are manufactured in the country. About half of the cars imported are manufactured in Mexico and Canada, while the other half of car imports come from other major car-producing countries.