Auto Tariffs Set at 25%, Additional Details Expected on April 2
U.S. President Donald Trump announced on Tuesday that automobile tariffs will be approximately 25%. Further details on the topic will be released on April 2.
Trump previously indicated that levies on vehicles would take effect as early as April 2, following the submission of reports by cabinet members outlining options for import duties.
The President has repeatedly highlighted perceived unfairness in foreign markets for U.S. automotive exports. For example, the European Union imposes a 10% tariff on vehicle imports, exceeding the U.S. rate of 2.5% for passenger cars. However, the U.S. maintains a 25% tariff on imported pickup trucks.
Trump also stated that sectoral tariffs on pharmaceuticals and semiconductor chips would tentatively begin at 25% in April, with potential increases over the following year.
Since his inauguration, Trump has implemented a 10% tariff on Chinese imports, supplementing existing levies. Additionally, he announced and subsequently delayed 25% tariffs on Mexican goods and non-energy imports from Canada. The implementation of 25% tariffs on all imported steel and aluminum has been scheduled for March 12.
Last week, the President instructed his economic team to formulate plans for reciprocal tariffs on nations that impose taxes on U.S. imports.