U.S. President Donald Trump said tariffs on automobile imports will be around 25 percent, with an announcement coming as soon as April 2.

Trump made the remarks to reporters on Tuesday at his Mar-a-Lago club when asked about auto tariffs. 

He said he will likely announce the tariffs April 2 and they will be “in the neighborhood of 25 percent.”

Asked about tariffs on semiconductors and pharmaceuticals, Trump said they will be 25 percent or higher and get “substantially higher” over the course of a year.

But Trump said he wants to give companies “time to come in” before announcing new tariffs, adding that there are no tariffs for companies that enter the United States and establish factories there.