Mr. Trump is considering tariffs of about 25 per cent on cars, medicines and chips imported into the US. "The tariffs will be at or above 25 per cent and they will go up significantly this year," Mr. Trump said of chips and medicines. Further increases are likely later this year in order to give companies "a bit of a chance" to move operations back to the US. He added that final details of the auto tariffs would be released "probably" on April 2, when he had said they would take effect.