President Donald Trump on Tuesday said he would likely impose tariffs of around 25 percent on foreign auto imports in his latest bid to reshape the U.S. economic relationship with its trading partners.
“I probably will tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters while signing executive orders at his Mar-a-Lago residence in Florida, adding that car plants are being canceled in other countries like Mexico.
Trump on Friday had said new duties on automobiles were coming as soon as April 2, one day after administration officials are due to deliver reports to the president that could form the legal basis for new tariffs on a range of imports.
Keeping up his steady drumbeat of trade threats, Trump also announced that he is planning to impose tariffs of 25 percent or higher on semiconductors and pharmaceuticals.
