U.S. President Donald Trump said on Tuesday he intends to impose auto tariffs “in the neighborhood of 25 per cent” and similar duties on semiconductors and pharmaceutical imports, the latest in a series of measures threatening to upend international trade.
On Friday, Trump said levies on automobiles would come as soon as April 2, the day after members of his cabinet are due to deliver reports to him outlining options for a range of import duties as he seeks to reshape global trade.
Trump told reporters on Tuesday that sectoral tariffs on pharmaceuticals and semiconductor chips would also start at “25 per cent or higher, and it will go very substantially higher over the course of a year.”
Good. This will totally kill US industry. Maybe this will tell the most conservative managers and company owners that they have to spend their political influence on stopping him.