U.S. President Donald Trump announced plans to impose tariffs on automobiles, aluminum, and pharmaceuticals in the near future.
Speaking to reporters at the White House, Trump emphasized the necessity of these products in the event of challenges such as wars, stating, "We've been ripped off by every country," during a Cabinet meeting.
Commerce Secretary Howard Lutnick, present at the same meeting, noted that on April 2, the U.S. would initiate what he referred to as "the external revenue service," distinct from the Internal Revenue Service that currently collects taxes from Americans.