U.S. President Donald Trump greets members of the crowd at a reception celebrating Greek Independence Day in the East Room of the White House, March 24, in Washington, D.C. AP-Yonhap

U.S. President Donald Trump said Monday his administration will announce tariffs on cars "over the next few days," raising speculation that new levies on automobiles could come before it rolls out "reciprocal" tariffs early next month.

Trump made the remarks as he and Hyundai Motor Group Executive Chair Euisun Chung announced the South Korean conglomerate's comprehensive plan to invest US$21 billion in the United States through 2028.

"We'll be announcing some additional tariffs over the next few days, having to do with automobiles, cars, and having also to do a little bit with lumber down the road, lumber and chips," the president said at the White House in response to a reporter's question about whether there would be some countries getting a tariff break.

"We are going to get all those chip companies coming back. They are already coming back without even doing it."

Addressing the reporter's question, Trump said he "may give a lot of countries breaks, but it's reciprocal."

He reiterated that April 2 is "Liberation Day" in reference to the date when he plans to announce reciprocal tariffs meant to match what other countries impose on U.S. exports. Reciprocal tariffs are to be customized based on trading partners' tariff- and non-tariff barriers and other factors, such as exchange rates.

"April 2 will be a big day. That will be a reciprocal day," he said. "And we will be bringing some of the money back that has been taken from us."

During a Cabinet meeting earlier in the day, Trump said that his administration will announce new tariffs on cars "very shortly" and pharmaceuticals "in the not-too-distant future, as South Korea has been bracing for the potential impact of the planned tariffs on its export-reliant economy.

"We will be announcing (a tariff on) cars very shortly, and we already announced steel, as you know, and aluminum. We will be announcing pharmaceuticals at some point in the not-too-distant (future) because we have to have pharmaceuticals," he said.

He went on to emphasize that the U.S. needs steel, aluminum and pharmaceuticals "if we have problems like wars or anything else."

"We need a lot of these things that we sort of don't make anymore and yet, we're equipped to do it all," he said. "So, we'll be announcing some of these things in the very near future, not the long future, the very near future."

He repeated that America has been "ripped off by every country and the world, friend and foe."

"We were taken advantage of like nobody's ever seen," he said.

Trump has been leveraging tariffs to boost domestic manufacturing, pare down America's trade deficit and address other challenges, such as the inflow of undocumented migrants and illicit drugs. (Yonhap)