Trump Signals Auto, Chip, Pharmaceutical Tariffs May Sit Around 25 Percent

A preliminary study is due to be completed on April 2 before the reciprocal tariffs are implemented.

Workers assemble cars at Ford's Assembly Plant in Chicago on June 24, 2019. Jim Young/AFP via Getty Images

The United States may impose a 25 percent tariff on imports of automobiles, semiconductors, and pharmaceuticals as part of a reciprocal tariff plan, President Donald Trump said on Feb. 18.

On Tuesday, Trump told reporters at a press conference at his Mar-a-Lago home in Palm Beach, Florida, that the United States may impose a tariff of “in the neighborhood of 25 percent” on automobiles.