Trump to announce auto import tariffs soon, hints at exemptions for reciprocal tariffs

Published 24/03/2025, 20:26
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect

Investing.com -- President Donald Trump has declared his intentions to disclose tariffs on automobile imports in the upcoming days. In addition to this, he suggested that certain nations might be granted exceptions from the "reciprocal" tariffs set to be unveiled next week.

The President’s statements on Monday at the White House sparked further uncertainty regarding his comprehensive tariff announcement slated for April 2. Trump informed reporters that he intends to go ahead with the previously warned auto import tariffs quite promptly, "over the next few days," prior to the broader package’s release.

The tariff introduction set for next Wednesday, as per Trump, will concentrate on "reciprocal" tariffs, with rates being determined on a country-by-country basis. Twice on Monday, the President hinted that trading partners might be granted potential exemptions or reductions.

"I may give a lot of countries breaks," Trump stated. "They’ve charged us so much that I’m embarrassed to charge them what they’ve charged us, but it’ll be substantial, and you’ll be hearing about that on April 2."

In addition to the automobile import tariffs, Trump also expressed his intention to impose specific tariffs on lumber and semiconductor chips "down the road," without providing any specific details. Earlier on Monday, he reiterated his threat to impose a specific tariff on pharmaceutical drugs.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.