President of the United States, Donald Trump, mentioned that the tariff rate for automobiles, drugs, and chips could be around 25 percent. The President made statements after signing executive orders at his Mar-a-Lago estate in Florida. Trump stated that many companies have contacted him and expressed their desire to return to the US due to tariff, tax, and incentive policies. He said they would announce chip and automobile companies returning to the country in the next few weeks. When asked about the tariff rate for automobiles, Trump noted that he would probably announce it on April 2nd, but it would be around 25 percent. Trump explained that tariffs on semiconductors and drugs would also be 25 percent or higher, and they would significantly increase throughout the year. Trump added that they wanted to give these companies time to return to the country because there would be no tariffs once they are here and have facilities or factories. He said, “That’s why we want to give them a little bit of a chance.” Trump stated that the European Union had reduced car tariffs to the level applied by the US, resulting in significant savings. When asked whether he would continue allowing Venezuela to export oil products through Chevron and other energy companies, Trump responded, “Maybe not, we’re looking into it.”