Donald Trump announces he will levy tariffs on ‘autos, aluminium, pharma' soon

US President Donald Trump has announced that he will be levying tariffs on automobiles, aluminium, and pharmaceuticals in the near future, as part of his broader trade policy initiatives.

Speaking to reporters at the White House, Donald Trump said the United States would need all those products if there were problems including wars. "We've been ripped off by every country," Reuters quoted Trump saying.

Commerce Secretary Howard Lutnick said that on April 2, which Donald Trump has targeted to impose a slew of tariffs, the United States will launch what he called "the external revenue service."

The US Internal Revenue Service collects taxes from Americans.

In February, President Donald Trump announced his intention to impose tariffs of approximately 25% on automobile imports, as well as similar duties on semiconductors and pharmaceuticals.

However, following a concerted effort by the three largest US automakers to secure a waiver, Trump agreed to delay the implementation of some of these auto tariffs.

Earlier in the day, Wall Street Journal and Bloomberg had reported that US President Donald Trump is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2.

The final content of the April 2 announcement, which President Trump has dubbed 'Liberation Day,' will ultimately be determined by him.

This action aims to mitigate a $1.2 trillion global goods trade deficit by aligning US tariffs with those of other nations and offsetting their non-tariff trade barriers.

The Wall Street Journal and Bloomberg earlier reported that the sector-specific tariffs are expected to be delayed, also citing an administration official.

Trump Tariffs Imposed Thus Far

Donald Trump has imposed new 20% duties on Chinese imports, fully restored 25% duties on global steel and aluminum imports and slapped 25% tariffs on imports from Canada and Mexico that do not comply with a North American trade agreement over the US fentanyl overdose crisis.

Trump Vows 25% ‘Secondary’ Tariff on Buyers of Venezuelan Oil

On Monday, President Donald Trump announced a 25% tariff on any nation purchasing oil or gas from Venezuela, thereby intensifying his dispute with the Latin American country over immigration issues. This move poses a risk to the global energy trade.

The primary objective is to reduce a major revenue source for the Nicolás Maduro regime in Caracas, while also increasing pressure on China, which is a substantial buyer of Venezuelan crude and already subject to 20% tariffs under Trump's policies.

Notably, the US itself is also a significant importer of Venezuelan oil. The tariff is set to take effect on April 2, as stated by Trump in a social media post.

Donald Trump is promoting failed lawyer Alina Habba to act as the Interim US Attorney for New Jersey.

Only in Trump's America does sycophancy outweigh meritocracy.