BREAKING: Trump says auto tariffs will be 25% or higher, to begin April 2

US President Donald Trump said Tuesday that auto tariffs will be set at around 25 percent, with a formal announcement expected on April 2.

"I'll probably tell you that on April 2, but it'll be in the neighborhood of 25 percent," Trump told reporters.

Last week, Trump said that new tariffs on automobiles could take effect as early as April 2. His comments come ahead of reports from his cabinet members who are scheduled to present options for various import duties as part of his broader effort to restructure global trade, reports Reuters. 
 

Trump reiterated his stance on unfair treatment of U.S. automotive exports, pointing to higher tariffs imposed by foreign markets.

For example, the European Union currently applies a 10% tariff on vehicle imports—four times the 2.5% rate the U.S. charges on passenger cars. However, the U.S. maintains a 25% tariff on imported pickup trucks.

Last week, Trump announced that there would be 25 percent tariffs on incoming steel and aluminum. Trump made the comments to reporters as he was en route to the Super Bowl on Air Force One, where he said, “Any steel coming into the United States is going to have a 25 percent tariff." When he was also asked about aluminum, Trump added that "aluminum, too" that is imported would be subject to the same tax, according to the Associated Press.

This is a breaking news story and will be updated.