20th Anniversary Deals: Get Them While They Last
President Trump has announced plans to impose 25% tariffs on imported cars, pharmaceuticals, and semiconductors, with potential increases later in the year.
The automotive tariffs could be finalized by April 2, while tariffs on chips and drugs may increase “substantially higher” throughout the year. This move follows Trump’s existing 25% tariffs on steel and aluminum, and a 10% levy on Chinese imports.
The timing is particularly significant as it coincides with the arrival of EU trade officials in Washington for negotiations, with Trump specifically criticizing the EU’s trade practices, claiming they “don’t take our cars” and maintain unfair trade barriers. The administration’s strategy aims to pressure companies to relocate their operations to the US by providing them “a little bit of a chance” to adjust before higher rates take effect.
