President Donald Trump is looking to boost American manufacturing and its competitiveness with tariffs. Last week, the nation’s 47th president moved to reinstate a 25% tariff on steel imports and lift the tariff on aluminum imports to 25%, using Section 232 of the Trade Expansion Act of 1962.

Donald Trump is considering imposing tariffs of about 25 per cent on imports of cars, drugs and chips into the US as he teased the next steps of a rapidly escalating trade war. The US president said on Tuesday that he was weighing tariffs “in the neighbourhood” of 25 per cent on automotive imports and at least that level on pharmaceutical products and semiconductors.