00:00U.S. President Donald Trump said on Tuesday, February 18, that he is going to impose tariffs
00:06of around 25% on automobiles and will also impose similar charges on semiconductors and
00:12the import of drugs.
00:15This is one of the many steps that can cause a stir in international trade.
00:20Reuters reported that on Friday, Trump said that tariffs on automobiles will be in effect
00:26from April 2.
00:27This is exactly one day after his cabinet members handed him a report on the framework
00:33of many options for import duty.
00:36Trump has been saying for a long time that in foreign markets, American automobile exports
00:42are misused.
00:43The European Union collects 10% duty on vehicle imports, which is four times the U.S. 2.5%
00:49passenger car tariff rate.
00:52However, America collects 25% tariff on pickup trucks from other countries other than Mexico
00:58and Canada.
00:59A tax that benefits vehicles for Detroit automakers.
01:04When asked by the trade chief of the European Union, can the European Union avoid reciprocal
01:10tariffs, which they proposed last week, Trump reiterated that the European Union had already
01:17indicated that it would reduce its tariff on American cars to the American rate.
01:23However, the EU ambassadors have refused to do so.
01:27They have said that they will put pressure on the European Union officers to increase
01:32the American import of cars and other products.
01:35Trump told reporters in the state of Mar-a-Lago in Florida that the sectoral tariff on pharmaceuticals
01:41and semiconductor chips will also be 25% or more.
01:46This will increase significantly within a year.
01:49He has not implemented it yet, nor has he said when it will be implemented.
01:54He has certainly said that he wants to give pharmaceutical and chip manufacturers some
01:59time to set up American factories so that they can avoid tariffs.
02:04Trump said that he hopes that some of the world's largest companies will announce new investments
02:09in the United States in the next few weeks.
02:12It was said that after taking the presidency, Trump imposed a 10% tariff on all imports
02:18from China in addition to the existing tariff on the failure to stop fentanyl smuggling from
02:23China.
02:24He also announced a 25% tariff on goods from Mexico and non-energy imports from Canada.
02:29After this, he extended this decision to impose tariffs for a month.
02:34He said that all imported steel and other goods will be banned for Canada, Mexico, the
02:40U.S. and Canada.
02:41He has also set a date for the start of March 12 to impose a 25% tariff on all imported
02:48steel and aluminum.
02:49Trump has also announced that this tariff will apply to hundreds of imported downstream
02:54products made of steel and aluminum, including electrical conduit, tubing, and bulldozer
02:59blades.
03:00Last week, he ordered his economic team to prepare a reciprocal tariff planning, which
03:06will match product by product with the tariff rates of each country.
03:10The 25% auto import tariff will be a game-changer for the global auto industry, which has already
03:16been struggling with uncertainty due to Trump's tariff drama.
03:20During Trump's first tenure in 2018 and 2019, we saw some similar situations.
03:26Trump had also threatened a 25% car tariff at that time, but did not take any action
03:32on it.
03:33What is your opinion on this news?
03:35Give us your opinion in the comment box and keep watching Good Return for such updates.
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