Trump Announces 25% Tariffs on Automobiles, Pharmaceuticals, and Semiconductors as Part of ‘America First’ Trade Policy – Effective April 2025
On February 18, 2025, U.S. President Donald Trump signaled the latest escalation in his administration’s trade policy, revealing plans to implement new tariffs on three sectors: automotive, pharmaceutical, and technology (i.e., semiconductor chips). These tariff measures reflect key goals outlined in President Trump’s “America First” policy, which aims to prioritize domestic industries, even if it results in higher prices for consumers.
The proposed tariff rate on automobiles will be set at or around 25% and will go into effect on April 2, 2025. President Trump emphasized that the tariff on automobiles will be based on recommendations from his cabinet and trade officials.
The CSMS and the Federal Register have not yet published guidance on these tariffs. Our firm will continue to monitor the situation.
Stay tuned for further updates.
