Trump Says He'll Announce Tariffs on Lumber 'and Some Other Things' in Next Month
President Donald Trump, in a meandering speech at an investors conference in Miami Feb. 19, said he'd be announcing "tariffs on cars and semiconductors and chips and pharmaceuticals, drugs, and pharmaceuticals, and lumber, probably, and some other things, over the next month, or sooner -- and it'll have a big impact in America."
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He said the tariffs will bring "trillions of dollars into our Treasury," but said it's possible there won't be that level of collections, because foreign countries might drop their tariff barriers to avoid reciprocal tariffs. "If they don't have it, we don't have it. If they don't charge us, we don't charge them," Trump said. "It's pretty simple."
However, later he said that the EU's value-added tax is "devastating, very tough for people on the outside, hard to sell cars. Really impossible, because they have non-monetary tariffs that are very tough, but if you take a look at that, it is a very unfair situation. And the VAT tax is similar to the tariff."