Trump's Trade Tariff Tactics: A 25% Turn

President Donald Trump has announced plans to impose 25% tariffs on auto imports, with details to be shared soon. His administration targets various sectors, including pharmaceuticals and chips, for higher tariffs. This move aligns with Trump's ongoing strategy to address what he considers unequal trade practices.

President Donald Trump announced a 25% tariff on automobile imports, effective April 2, as part of his broader strategy to reformulate global trade dynamics. The measure, he noted, will also impact pharmaceuticals and semiconductor chips with similar initial tariffs.

Trump asserted the legislation as a countermeasure against what he perceives as unfair practices, referencing the European Union's 10% vehicle import duty compared to the U.S.'s 2.5% rate on passenger cars. However, he noted the U.S. already enforces a 25% tax on imported pickup trucks.

The administration's aggressive tariff approach will also involve 25% tariffs on steel and aluminum imports starting March 12, and aims to target countries taxing U.S. products with reciprocal levies. Trump's agenda seeks to recalibrate trade relationships significantly.

(With inputs from agencies.)