Former President Donald Trump proposed expanding U.S. tariffs to include automobiles, pharmaceuticals, and semiconductors, with duties starting at 25% and potentially increasing substantially over a year. The tariffs could take effect as early as April 2, though it remains unclear if they will apply broadly or target specific countries. This move reflects an extension of Trump’s aggressive trade policies, which already included tariffs on steel and aluminum imports. Major auto exporters to the U.S. include Mexico, Japan, and Canada. In pharmaceuticals, Japan and India could face significant impacts, while semiconductor tariffs would affect companies like Taiwan Semiconductor, a key supplier to Nvidia and Apple. Trump claims the tariffs are encouraging companies to return to the U.S. — news from CNBC
