Lonski Group President John Lonski breaks the economic plan of President Donald Trump while appearing on ‘Varney & Co.’
President Donald Trump On Tuesday, he said that he plans to impose auto tariffs “in a 25%neighborhood” and similar tariffs on semiconduct and pharmaceutical imports in his latest moves to start international trade.
Trump said on Friday that Auto tariff He could come as early as April 2, a day after his review of his options for a series of imported taxes should be completed.
The President has long criticized what he calls unjust by acting with American export of car in foreign markets.
For example, the European Union is collecting 10% of the vehicle’s importing tariff, which is four times higher than the US tariff rate of 2.5% passenger cars. However, the US is collecting 25% of tariffs on trucks from countries except Mexico and Canada, a policy that helps mainten the maintenance trucks to be a profitable segment for American car manufacturers.
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President Donald Trump said he plans to impose larger tariffs on cars, semiconductors and pharmaceutical products. (Andrew Hardik / Getty Images / Getty Images)
The EU trade head is expected to meet with US colleagues, including the Hward Lutnik, Trump candidate for US MP Jamieson Greer and the National Economic Council Council, Kevin Hassett in Washington, to talk about various tariff threats.
Trump asked if the EU could avoid reciprocal tariffs And he claimed that the EU signaled its plans to lower tariffs on US cars at the US rate, although EU legislators denied it. He also said he would press EU officials to increase American imports of cars and other products.
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The semiconductors would be subject to tariffs under Trump’s plan. (VCG / VCG via Getty Images / Getty Images)
Trump told reporters on his MAR-a-Lazla Florida estate on Tuesday that the tariffs were on pharmaceutical products and semiconductor chips It would also start from “25% or more” and increased significantly throughout the year.
Trump did not determine the date for the announcement of these duties and said that he wanted to provide some time for drug manufacturers and chips to set up American factories so they could avoid tariffs. He also said he expects some of the world’s largest companies to announce new investments in the US in the next few weeks, although he has not given further details.
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Auto tariffs could rise to 25% on imported cars starting from April, according to Trump’s plan. (Emily Elconin / Bloomberg via Getty Images / Getty Images)
Ever since he took over his duty on January 20th, Trump has imposed a 10% tariff on all imports from China On top of the existing tariffs because of its role in the fentanyl store.
Trump has also announced 25% of tariffs on merchandise from Mexico and non -energy imports from Canada, while taxing Canadian oil and gas with 10%. Delayed these tariffs by the beginning of March after two countries announced border security Measures.
He also announced the start date on March 12 for 25% of tariffs on all imported steel and aluminum, closing exemption for Canada, Mexico, EU and other trade partners. Trump also indicated that these tariffs would be applied to products downstream of steel and aluminum, such as electric tubes and bulldozer knives.
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Trump’s reciprocal tariff plan has been announced last week and will begin that his economic advisers will devise plans for alignment with the US tariff tariffs of every country on US exports based on products.
Reuters contributed to this report.
