Summary
- President Trump announced that tariffs on imported automobiles to the US will be around 25%.
- He also indicated that pharmaceutical tariffs could be over 25% and that tariffs would gradually increase.
- Despite the tariff impositions, he stated that tariffs would be waived for foreign companies that place factories in the US, providing opportunities for investment.
President Donald Trump announced on the 18th (local time) that tariffs on automobiles imported into the United States would be around 25%.
At a press conference at his Mar-a-Lago residence in Florida, when asked about the level of auto tariffs to be imposed, Trump responded, 'I will probably tell you on April 2nd, but it will be around 25%.'
Regarding the question about pharmaceutical tariffs, he added, '25% and beyond,' stating that 'tariffs will increase much more over the course of a year.'
He continued, 'However, we want to give them (companies) time to come in (to invest in the US),' adding 'We want to give them some opportunity because there will be no tariffs if they come to America and place their factories here.'
Noh Jung-dong, Hankyung.com reporter dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
