Donald Trump set to unveil new US tariffs soon: 'Cars, semiconductors, and more

United States President Donald Trump announced the president plans to declare tariffs on a variety of goods next month or earlier. The items he plans in announcing tariffs are cars, lumber and semiconductors, as well pharmaceuticals as reported by the news agency Reuters.

Donald Trump made the announcement during a press conference held in Miami, Florida, without giving further specifics. "I'm going to be announcing tariffs on cars and semiconductors and chips and pharmaceuticals, drugs and pharmaceuticals and lumber, probably and some other things over the next month or sooner," Trump was quoted by Reuters

The announcement will be made at the same time that Donald Trump completes almost one month of his second term at his White House.

Since his appointment in the office of US 47th president on January 20th, Trump is a signer of a series of executive orders. He also has been adamant about tariffs, which he had promised in his campaign for president.

Within just a month, he had enacted numerous trades the US tariffs on India, and also threatened to put in duty on imports quite often.

The report noted that Trump's tariff announcements vary from general ones, like the universal tariff on imported foreign products, to specific areas or countries to persuade other countries to comply with his demands for policy.

In a recent conversation in a recent meeting the Prime Minister Narendra Modi in the US, Trump said he said that reciprocal tariffs would be applied to India due to India's heavy duty on US products.

In recollecting his discussions to Modi, Trump said, "I said, 'Here is what we're planning to accomplish: reciprocal. Whatever you are charging I am going to charge'." To which, Trump said that Modi was not happy. But, Trump claimed he responded by saying "No No matter what you charge, I will charge you. I'm doing it for all countries."