Trump says he will soon announce tariffs on autos, aluminum, pharmaceuticals

U.S. President Donald Trump said on Monday he will in the very near future announce tariffs on automobiles, aluminum and pharmaceuticals.

Speaking to reporters at the White House, Trump said the United States would need all those products if there were problems including wars.

"We've been ripped off by every country," Trump said as he presided over a meeting of his Cabinet.

Commerce Secretary Howard Lutnick, speaking at the same meeting, said that on April 2, which Trump has targeted to impose a slew of tariffs, the United States will launch what he called "the external revenue service." The U.S. Internal Revenue Service collects taxes from Americans.