U.S. President Donald Trump said that semiconductors and pharmaceuticals, which he described as more profitable than automobiles, could face higher tariffs than the current 25 percent duty on imported cars.
As he left the White House for a state visit to Britain on Tuesday, Trump told reporters that certain goods, such as chips and pharmaceuticals, could face higher tariffs due to their "bigger margins."
Trump said he had not compromised on anything in recent tariff negotiations, adding that he was the one who had imposed the 25 percent automobile tariff in the first place.
The president stated that nations such as Japan and the European Union had previously been paying no tariffs and were now paying 15 percent.
The remarks came in response to a reporter’s question about concerns that lowering auto tariffs from 25 percent to 15 percent would harm U.S. automakers.
The president had previously floated substantial tariffs on semiconductors, at times mentioning rates as high as 100 percent, and suggested that pharmaceuticals could face duties of 150 to 250 percent.