Trump Plans 25% Tariffs on Autos, Semiconductors, Pharmaceuticals

President Donald Trump has announced plans to impose 25% tariffs on imported automobiles, pharmaceuticals, and semiconductors, with the potential implementation date set for April 2. This move is part of his broader strategy to reduce the U.S. trade deficit and could escalate already heightened trade tensions, particularly affecting Asian suppliers. Financial markets reacted with volatility, with Tesla's stock rising while Ford's faced pressure due to its reliance on imports. Foreign automakers, including Volkswagen and Nissan, saw declines in their stock prices following the tariff threat. The trade deficit in pharmaceuticals has surged, prompting concerns among industry stakeholders, particularly in India. Trump's administration aims to give U.S. companies time to ramp up domestic production to mitigate the impact of these tariffs.