Palm Beach: US President Donald Trump declared Tuesday that car duties would remain at approx. 25%, with additional details of the case expected to be announced on April 2nd.
On Friday, Trump said taxes on cars would come as soon as April 2, the day after members of his cabinet have to deliver reports to him outlining opportunities for a number of import duties as he seeks to reshape global trade .
Trump has long pointed to what he calls unreasonable treatment of American car exports in foreign markets.
The European Union, for example, collects a 10% duty on the import of the vehicle, four times the US passenger caryer of 2.5%. However, the United States collects a 25% duty on very profitable imported pickup trucks.
Trump on Tuesday also said that sector stars on medicines and semiconductor chips would probably also start with 25% in April, with at least some rising afterwards over a year.
Since his inauguration, Trump has imposed a 10% duty on all imports from China on top of existing taxes. He also announced, and then delayed 25% duties on goods from Mexico and non-energy imports from Canada.
He has also set a 12 March start date for 25% tariffs on all imported steel and aluminum. Last week he instructed his financial team to devise plans for mutual tariffs on each country that taxes us imports.
