U.S. President Donald Trump said on Tuesday he intends to impose a "25% or higher" levies on semiconductors and pharmaceutical imports, and raise it

President Donald Trump suggested imposing tariffs on auto imports, threatening to drive up the cost of cars further amid plans for tariffs on steel, aluminum, Canada, and Mexico. But economists and the insurance industry say that this will raise auto insurance costs.

The Trump administration plans to implement 25% tariffs on aluminum and steel. The craft beer industry could be hit particularly hard by the tariffs.