US imposes duties on cars, semiconductors, pharmaceuticals and wood in March

By Alimat Aliyeva

The U.S. government plans to impose import duties on automobiles, semiconductors, pharmaceutical products, and wood starting in March, Azernews reports.

U.S. President Donald Trump made this announcement while speaking at an investment forum organized by Saudi Arabia in Miami, Florida.

"In the next month or earlier, I will announce duties on cars, semiconductors, pharmaceuticals, medicines, pharmaceutical products, and wood. Perhaps on some other goods as well," he stated.

"This will have a significant impact on America. We are bringing our businesses back," the U.S. president added.

Earlier, Trump had mentioned that the United States intends to impose tariffs of about 25% on foreign cars, and similar tariffs will be applied to pharmaceutical products.