President Donald Trump said on Tuesday that he plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States as early as April 2.

President Donald Trump said he would likely impose tariffs on automobile, semiconductor and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the president’s trade war.

During a Tuesday press conference at his Mar-a-Lago resort, President Donald Trump said new sector-specific U.S. trade tariffs were in the works, including 25% levies on imported vehicles, pharmaceutical products and computer microchips.

President Trump said Tuesday that he could impose hefty tariffs on automobile imports, but said he would have more to say in early April. "I probably will tell you that on April 2, but it'll be in the neighborhood of 25%,

The president provided further details about his expected tariff moves.

The performance of car stocks just hasn’t lined up with the threat of new tariffs. There are a couple of reasons for that, but investors should consider whether a change is coming as President Donald Trump’s threat likely becomes a reality in a few weeks.