- Title: Key sectors hit by tariffs announced on Trump's ‘Liberation Day’
- Date: 5th March 2025
- Summary: AUTOMOBILES: On March 26, Trump unveiled a 25% tariff on imported cars and light trucks. The 25% levy would be imposed on top of previous duties on imports of finished vehicles starting on April 3. Trump's directive included temporary exemptions for auto parts that are compliant with the U.S.-Mexico-Canada Agreement (USMCA) on trade that Trump negotiated during his first t
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- Keywords: Automobiles Metals Pharmaceuticals Semiconductors Tarrifs U.S President Donald Trump
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- Topics: Economic Events
- Reuters ID: LVA001653605032025RP1
- Aspect Ratio: 16:9
- Story Text: President Donald Trump said on Wednesday (April 2) that he would impose a 10% baseline tariff on all imports to the U.S. and higher duties on dozens of other countries, including some of the United States' biggest trading partners, deepening a trade war that has rattled global markets and bewildered U.S. allies.
Some trading partners are expected to respond with countermeasures of their own that could lead to dramatically higher prices for products in the U.S. and in other parts of the world.
Trump spared pharmaceutical products from reciprocal tariffs, but executives and analysts warned it was premature to celebrate as tariffs were still likely to come.
The president temporarily exempted some goods, including pharmaceuticals, benefiting major exporters including India, Japan and Ireland.
(Production: Seham Eloraby, Zainab Elhaj, Jared Hillel, Carla O'Connor) - Copyright Holder: FILE REUTERS (CAN SELL)
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