US President Donald Trump continued to expand the scope of tax increases, announcing on February 18 that he would impose a 25% tax on imported semiconductor chips and pharmaceuticals.
Reuters reported that speaking at a press conference on February 18, Mr. Trump said he would consider imposing tariffs on pharmaceuticals and semiconductor chips of “25% or higher,” and the tax rate would increase significantly within a year.
He did not specify the exact time of the tax, adding that he wanted to give pharmaceutical and semiconductor companies time to move their factories to the US to avoid paying the tax. According to the economic data provider The Observatory of Economic Complexity , the US imported more than $25 billion in semiconductor equipment in 2023. Meanwhile, the US imported $177 billion in pharmaceuticals in 2023, accounting for about 21% and making it the world's largest importer of pharmaceuticals, according to TrendEconomy .
US President Donald Trump appeared at a NASCAR racing event on February 16.
Asked about his plans to impose auto tariffs, the White House chief said the tariffs would be “about 25 percent” and would be announced on April 2. Mr. Trump has long criticized the “unfair treatment” of American cars when exported to foreign markets. The European Union (EU) imposes a 10 percent tariff on imported cars, while in the US, the tariff on passenger cars is 2.5 percent and on trucks is 25 percent.
Trump’s announcement on February 18 was another move by the US president to increase tariffs on many imported goods. Previously, he announced a 25% tariff on steel and aluminum, and introduced a policy of reciprocal tariffs. The US has also imposed a 10% tariff on goods from China, while the 25% tariff on Mexico and Canada has been postponed until early March.
The information about the car tax was announced by Mr. Trump on February 14. The 25% tax rate is expected to have a significant impact on the global auto industry, which has been shaken by the previous tax policies of the US leader.
At a meeting of the World Trade Organization (WTO) on February 18, a Chinese representative said that Mr. Trump's tax policies increased economic instability, disrupted global trade and risked causing inflation, according to AFP.
Source: https://thanhnien.vn/ong-trump-noi-se-ap-thue-chip-ban-dan-duoc-pham-nhap-khau-185250219111435691.htm
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