Trump Announces 25% Tariff On Auto Imports, Chips And Pharmaceuticals, Shaking Global Trade: Nvidia, Apple, TSMC And Others In Focus

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Trump Announces 25% Tariff On Auto Imports, Chips And Pharmaceuticals, Shaking Global Trade: Nvidia, Apple, TSMC And Others In Focus - Benzinga

Quick Summary:

President Donald Trump has announced his intention to impose a 25% tariff on auto imports, alongside chips and pharmaceuticals, causing a stir in international trade.

The President also announced that sectoral tariffs on pharmaceuticals and semiconductor chips would start at “25% or higher” and rise substantially during the course of a year.

These tariffs are anticipated to take effect as early as April 2, following a report from his cabinet members outlining options for import duties, according to a Reuters report today.