American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Now, Trump is planning 25% tariffs on autos, semiconductors, and pharmaceuticals

by admin February 19, 2025
February 19, 2025
Now, Trump is planning 25% tariffs on autos, semiconductors, and pharmaceuticals

US President Donald Trump announced plans on Tuesday to impose a 25% tariff on automobile imports, along with similar duties on semiconductors and pharmaceutical products.

The move is part of his ongoing effort to reshape global trade, which could have significant economic consequences.

Trump indicated that auto tariffs could take effect as early as April 2, just a day after his cabinet members are scheduled to present reports outlining various trade measures.

He has long criticized what he sees as unfair trade practices, pointing out that the European Union imposes a 10% tariff on US vehicle imports—four times higher than the 2.5% tariff the US applies to passenger cars.

However, the US already imposes a steep 25% duty on imported pickup trucks from countries outside of North America, a policy that benefits American automakers.

Talks with the EU

European trade chief Maros Sefcovic is set to meet with US officials—including Commerce Secretary Howard Lutnick, US Trade Representative nominee Jamieson Greer, and National Economic Council Director Kevin Hassett—in Washington on Wednesday to discuss the proposed tariffs.

When asked if the EU could avoid these trade penalties, Trump reiterated his claim that European officials had already agreed to lower their tariffs on US cars to match US rates—something EU lawmakers have denied.

He also stated that he would push for increased European imports of American goods.

Tariffs on pharmaceuticals and semiconductors

Trump also revealed plans to impose sector-specific tariffs of at least 25% on pharmaceuticals and semiconductor chips, with the possibility of further increases over the next year.

However, he did not specify a timeline, saying he wanted to allow companies time to set up manufacturing facilities in the US to avoid the tariffs.

He also hinted that major corporations would soon announce new investments in the US, though he did not provide any details.

Since taking office, Trump has implemented a 10% tariff on all Chinese imports due to Beijing’s failure to curb fentanyl trafficking.

He also initially announced 25% tariffs on goods from Mexico and non-energy imports from Canada but later delayed them for a month.

Additionally, a 25% tariff on imported steel and aluminum is set to take effect on March 12, removing previous exemptions for key trading partners, including Canada, Mexico, and the EU.

These duties will also apply to hundreds of downstream steel and aluminum products, from electrical conduit tubing to bulldozer blades.

The post Now, Trump is planning 25% tariffs on autos, semiconductors, and pharmaceuticals appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Bitcoin advocate Howard Lutnick confirmed as US commerce secretary
next post
Zoom Video stock price analysis ahead of earnings: time to buy?

Related Posts

Trump declares ‘I hate Taylor Swift’ as singer’s...

September 16, 2024

Savings drained and living off $2,400 a month,...

July 19, 2024

Walgreens announces price cuts on 1,300 items amid...

May 31, 2024

Aluminum and steel tariffs spark rise in secondary...

June 12, 2025

From ServiceNow to SAP: how the software sector...

April 25, 2025

Analysts are upbeat about AMD stock price: should...

May 12, 2025

Inox Green Energy, Premier Energies and six other...

January 21, 2025

Weekly mortgage demand drops to three-month low as...

May 31, 2024

Long VFS: VinFast Auto Q3 Highlights 115% EV...

November 28, 2024

Franklin Templeton rolls out “EZPZ” Bitcoin and Ether...

February 21, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,199)
    • Investing (2,531)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved