Trump: "Tariffs on Cars and Semiconductors to Be Announced Within a Month"

President Donald Trump is moving up the timing of the announcement on tariffs for automobiles and semiconductors, which was expected to be made on April 2. The tariffs are said to help government finances and lead to increased investment in the United States.

In his speech at the Future Investment Initiative (FII) Priority Summit held in Miami, Florida, hosted by the Saudi Arabian sovereign wealth fund, Trump stated, "Within a month or even sooner, we will announce tariffs on automobiles, semiconductors, pharmaceuticals, lumber, and more."

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Earlier, on the 18th, President Trump said at a press conference that he planned to impose about a 25% tariff on automobiles and intended to announce it around April 2. However, on this occasion, although he did not disclose specific details, he mentioned March as a possible earlier date.

President Trump claimed that the tariff policy is having a positive impact on the U.S. economy. He said, "We are working to achieve a balanced budget. That is already evident thanks to the tariff revenues, which have been remarkable," and argued that tariffs are leading to increased investment in the U.S. He added, "If they don’t make products in the U.S., simply put, they have to pay tariffs. If they make products in the U.S., they don’t have to pay tariffs," and said the tariffs will "bring trillions of dollars to our finances."

He also announced plans to quickly replenish the strategic petroleum reserves that were released by the previous Joe Biden administration to stabilize oil prices. He promised tax cuts for all oil and gas producers within the U.S. and said he would work with the Republican Party to reduce taxes for individuals and businesses.

After citing achievements in cracking down on illegal immigration since taking office, he said, "Europe and other countries should start doing that too." Trump told Europe, "Immigration is really hurting Europe a lot," and added, "They should get wise and take a tough stance before it’s too late."

He also said, "I am committed to making the U.S. the global capital of virtual assets," and "We want to be at the forefront of everything, and one of those is virtual assets."

At the event, Elon Musk, CEO of Tesla and a close aide to President Trump who leads the Department of Government Efficiency (DOGE), was also present. Sitting next to Musk was Princess Reema bint Bandar Al Saud, the Saudi ambassador to the U.S. Jared Kushner, Trump’s son-in-law who recently secured a $2 billion investment from Saudi Arabia, also attended.

During his speech, President Trump mentioned CEO Musk and praised the activities of the Department of Government Efficiency. He said he is considering ways to return the cost savings from the department to the American people. "We are saving billions of taxpayer dollars every day," he said, "and we are even considering a new concept where 20% of the Department of Government Efficiency’s savings would be given to American citizens and 20% used to pay down debt."

The White House stated that the reason President Trump spoke at the event was to encourage investment in the U.S. Trump told foreign companies, "If you want to build the future and accumulate wealth, come to the U.S. Many companies really want to hold investment announcement press conferences at the White House. If the investment amount exceeds $10 billion, I will attend."

He also praised Saudi Arabia as "a special place with special leaders." Saudi Crown Prince Mohammed bin Salman, the de facto ruler, had expressed to President Trump a desire to invest $600 billion over the next four years. In response, Trump demanded an increase to $1 trillion.

Seemingly mindful of Saudi opposition, the plan to relocate Gaza Strip residents was not mentioned in the speech.

Meanwhile, President Trump continued his remarks about a possible third term. He said, "I wanted to see if I could extend (my term) a few more years, but I wasn’t sure if that fight was really worth it."

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