President Trump announced that new automotive tariffs will be around 25%, applicable to semiconductors and pharmaceuticals as well. He indicated that these tariffs are set to take effect around April 2, having initially considered an April 1 start but delaying due to superstition. The administration has previously implemented reciprocal tariffs and specific duties to alter global trade dynamics. Concerns from automakers about rising production costs due to these tariffs have surfaced, particularly as a significant portion of vehicles manufactured in Mexico and Canada are imported into the U.S.

Source: https://www.supplychaindive.com/news/trump-auto-tariffs-april-2/740235/