President Donald Trump is eyeing a “25% or higher” tariff across all semiconductor chips the United States imports, with rates likely to “go very substantially higher over a course of a year,” he told reporters on Tuesday.

President Trump on Monday ordered new tariffs on all steel and aluminum imports. Experts say some products could become pricier.

President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports into the United States with no exceptions or exemptions.

President Donald Trump suggested imposing tariffs on auto imports, threatening to drive up the cost of cars further amid plans for tariffs on steel, aluminum, Canada, and Mexico. But economists and the insurance industry say that this will raise auto insurance costs.

US President Donald Trump’s tariffs on aluminum and steel are motivated mostly by concerns that China is flooding the global market and harming US manufacturing, said a former trade adviser to the White House.

In a move termed as trade tsunami, set to upend international trade dynamics, President Donald Trump has declared an aggressive plan to impose reciprocal tariffs on India and other nations he accuses of exploiting the United States with exorbitant duties.