Trump Threatens Escalating Tariffs on Cars, Drugs, and More
Summary
President Trump has threatened to impose escalating tariffs on a wide range of industries, including automobiles, pharmaceuticals, lumber, semiconductors, and oil and gas imports from countries dealing with Venezuela, signaling plans for more sweeping trade duties.
Key Points
- Trump said he will soon announce tariffs targeting automobiles, pharmaceuticals, and other industries like lumber and semiconductors
- Trump's comments signal plans to impose more sweeping duties on top of the forthcoming 'reciprocal tariffs' set for April 2
- Trump also vowed to slap 25% tariffs on all countries that buy oil and gas from Venezuela