Martha Norton, the main investment strategist, discusses the impact of President Donald Trump's tariff on the automotive industry on “revenue”.
President Donald Trump He announced that it intends to work with Republican Congress to “dramatically reduce people and companies.
Trump spoke at the Saudi investment priority summit at FII priority Miami, Florida, On Wednesday, when he announced his plans for “the biggest tax cut in American history”.
“We intend to dramatically reduce the taxes of families, workers and companies, including any taxable taxes and I hope that there will be no social security tax and overtime tax,” he said.
The president expressed his vision of tax cuts, which includes 100 % cost of building a new factory in the United States and tax cuts for oil and gas producers.
Trump says he introduces 25 % tariffs in cars, pharmacy and chips
West Palm Beach, Florida – November 06: Former US President Donald Trump talks during a night -night election event at the Palm Beach Conference Center on November 06, 2024, in West Palm Beach, Florida . America (Chip somodevilla / Getty Images / Getty Images)
Trump's program also calls for car tariffs, semiconductors, pharmaceuticals and wood, including other cases, which the president said he will announce next month.
“We'll get back to your jobs,” he said. “But if they make their product in the US, they no longer need to pay the tariff, which will bring it … it brings all the trillion dollars to our treasury or does it mean that there will be no taxes …
The remarks come a day after Trump said he plans to impose automatic tariffs on “25 % in the neighborhood” and similar tariffs for semiconductors and drug imports.
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Cost of health care, pills prescribed to the US dollar (ISTOCK / ISTOCK)
He said on Friday that car tariffs could be completed on April 2, the day after his options for a wide range of import taxes.
The president has long criticized what he calls unjust US car exports in foreign markets.
For example, the European Union collects 10 % tariffs on car imports, which is four times the US passenger car tariff rate of 2.5 %. However, the United States is gathering 25 % tariffs on pickup trucks from countries other than Mexico and Canada, a policy that helps keep pickup trucks a profitable part of US carmakers.
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Jevetho, Oh Oh May – May 7: A suspension for a Jeep Cherokee 2014 at Chrysler's North Jeep Jeep 7 May 2014 at Jeveveo, Ohio. Fiat Chrysler's cars have announced that it wants to turn the Jeep as part of an AGGR to a global brand (Bill Pogliano / Getty Pictures / Giti Pictures)
On Tuesday, Trump told reporters at the Marn-Lago real estate in Florida that the drug tariff and the drug Semiconductor chips It also starts from “25 % or higher” and increases significantly throughout the year.
Trump did not specify the date of the announcement and said he wanted to provide drugs and chips for some time to set up American factories to prevent tariffs. He also said he expects some of the world's largest companies to announce new investments in the United States in the next two weeks, though it did not provide further details.
Trump has imposed 10 % tariff for all since his tenure on January 20 Import from China At the top of the tariffs because of its role in the smuggling of Fentanyl.
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Trump also announced a 25 % tariff on Mexican goods and non -energy imports from Canada, while taxing Canada's oil and gas tax at a lower rate of 10 %. After the announcement of the two countries, he delayed the tariffs until early March. Border security Actions
Eric Rivele Fox Business has been involved in the report.