Trump announces 25% tariffs on key imports [Video]

President Donald Trump said on Tuesday that he plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States as early as April 2.Trump recently enacted a 10% across-board-tariff on goods coming from China and 25% tariffs on all steel and aluminum imports.For tariffs on semiconductor chips and drugs, he told reporters at his resort in Mar-a-Lago, Florida that he intended to eventually increase the rate even more.“It’ll go substantially higher over a course of a year,” he said. But he added that he wanted to give time for potentially affected companies to bring their factories to America to avoid tariffs.“We want to give them a little bit of a chance,” he said.The revelation comes days after Trump ordered an investigation into other nations’ tax and tariff policies, paving the way for new reciprocal tariffs to take effect as soon …