Trump's Tariff Threat: President Donald Trump has announced a sweeping 25% tariff on auto imports, semiconductors, and pharmaceuticals, set to take effect as early as April 2. He warned that these tariffs could go even higher within a year, urging companies to move their factories to the U.S. to avoid heavy taxation. The new import taxes are expected to drive up car prices by thousands of dollars and disrupt global chip and drug supply chains, hitting Asian and European manufacturers the hardest. Will this move boost American industries or trigger an economic shockwave? Stay tuned for the full breakdown.Trump's Tariff Threat
#Trump'sTariffThreat #Trump #Tariffs #TradeWar #USEconomy #AutoIndustry #Semiconductors #Pharmaceuticals #MadeInUSA #China #GlobalTrade #TSMC #Samsung #Biden #EconomicPolicy #BreakingNews
~HT.97~PR.274~ED.102~
#Trump'sTariffThreat #Trump #Tariffs #TradeWar #USEconomy #AutoIndustry #Semiconductors #Pharmaceuticals #MadeInUSA #China #GlobalTrade #TSMC #Samsung #Biden #EconomicPolicy #BreakingNews
~HT.97~PR.274~ED.102~
Category
🗞
NewsTranscript
00:00And because of what we're doing economically and through tariffs and taxes and incentives,
00:05they want to come back into the United States.
00:08As you know, when they come into the United States and they have their plant or factory
00:12here, there is no tariff.
00:14So we want to give them a little bit of a chance.
00:16Well, they did already, as I understand it, reduce their car tariff all the way down to
00:20what we have.
00:21And a lot of that will take place, and I think some won't do it and some will do it.
00:25But the EU had a 10 percent tax on cars.
00:28It's called reciprocal, actually.
00:30You know, the EU has been very unfair to us.
00:32We have a deficit of $350 billion.
00:34They don't take our cars.
00:36They don't take our farm products.
00:38They don't take almost anything.
00:40They take very little.
00:41That was the primary purpose of this conference, to explain that they are all very important
00:47in their own way.
00:48Fertilization, I've been saying that we're going to do what we have to do.
00:53And I think the women and families, husbands, are very appreciative of it.
00:59But that was it.
01:00I do want to say, while I'm up here, I've been contacted by some of the biggest companies
01:04in the world.
01:06And because of what we're doing economically and through tariffs and taxes and incentives,
01:10they want to come back into the United States.
01:14And we'll be announcing various very large companies, the biggest, actually.
01:18And they'll be coming back, having to do with chips and having to do also with cars
01:24and lots of other things.
01:25We're going to be announcing some very, very big, very big, momentous, I think, momentous
01:32decisions are being made by companies all around the world, the biggest.
01:36And they want to come back into the U.S.
01:39Car plants are being canceled in other locations now because they want to build them here.
01:44And you read about a couple, not that I want to mention names or anything, but you read
01:47about a couple of big ones in Mexico just got canceled because they're going to be building
01:51them in the United States.
01:53And that's very simply because of what we're doing with respect to taxes, tariffs, and
01:56incentives.
01:58And I think it's a very important thing.
02:01And you'll be seeing this over the next, probably over the next two years, to be honest.
02:06But you're going to see a lot of it over the next couple of weeks.
02:08A lot of big ones are going to be announcing.
02:11And so while we're here, I guess we can take a couple of quick questions.
02:15Go ahead, please.
02:16Please.
02:17Mr. President, have you decided specifically what the auto tariff rate should be?
02:22Yeah, I probably will tell you that in on April 2nd, but it'll be in the neighborhood
02:27of 25 percent.
02:28What about with any conductors and pharmaceuticals?
02:31It'll be 25 percent and higher, and it'll go very substantially higher over a course
02:35of a year.
02:37But we want to give them time to come in because, as you know, when they come into the United
02:40States and they have their plant or factory here, there is no tariff.
02:45So we want to give them a little bit of a chance.
02:47Yes.
02:49The EU.
02:50I'm sorry.
02:51Andrea Shalom.
02:52The EU representative is going to be here in Washington next week.
02:56I'm sorry, tomorrow.
02:57He's going to be meeting with Hassett and Greer and Letnik.
03:01What can the EU do to sort of avoid the reciprocal tariffs that you've talked about?
03:08And you know, you've talked a lot about the VAT.
03:10Do you expect them to reduce that?
03:13Well, they did already, as I understand it, reduce their car tariff all the way down to
03:17what we have.
03:18And a lot of that will take place, and I think some won't do it and some will do it.
03:22But the EU had a 10 percent tax on cars, and now they have a two and a half percent tax,
03:27which is the exact same as us.
03:28So already we've saved a tremendous amount.
03:30That would be great.
03:31If everybody would do that, then we'd all be on the same playing field.
03:35Because essentially what we're doing with the tariffs is, you know, they charge us,
03:39we charge them same amount.
03:41And it's called reciprocal, actually.
03:45And whatever they charge us, we're charging them.
03:47And so the EU is, you know, I appreciate that they did this.
03:51But you know, the EU has been very unfair to us.
03:53We have a deficit of $350 billion.
03:56They don't take our cars.
03:57They don't take our farm products.
03:59They don't take almost anything.
04:01They take very little.
04:03And we're going to have to straighten that out.
04:04And we will.
04:05I have no doubt about it.
04:06Don't miss out.
04:07Log on to OneIndia.com for more updates.