Surprises are on the horizon if President Donald Trump proceeds with his plan to impose 25% tariffs on automobile imports, semiconductor components, and pharmaceuticals. This initiative is expected to take effect in early April.
Tentatively, Trump’s administration is set to complete its trade policy assessment by April 1. As a result, a final decision on tariffs could be announced on April 2, 2025. The President stated that the tariff rate on automobiles will be "somewhere around 25%", while import duties on chips and pharmaceuticals will be "25% or higher and will increase significantly over the year."
At the same time, Donald Trump noted that companies would be given time for adjustment before the tariffs are fully implemented. The new trade measures are expected to be introduced gradually, allowing businesses a "small window" to relocate their production to the US. All in all, companies have to accept the new economic reality!
However, the US president did not clarify whether these additional tariffs will target specific countries or apply to all imports into the United States.
