Trump to announce range of tariffs ‘over the next month or sooner'

US President Donald Trump said Wednesday that he will announce a range of tariffs "over the next month or sooner."

"I'm going to be announcing tariffs on cars and semiconductors and chips and pharmaceuticals, drugs and pharmaceuticals and lumber probably and some other things over the next month or sooner," Trump said at a foreign investment summit in Miami.

He did not give further details.

Addressing investors, Trump said he will also be working with the Republican Congress to pass the "largest tax cuts" in American history.

"We're going to dramatically cut taxes for families and for workers and for companies, including no tax on tips and hopefully no tax on Social Security and no tax on overtime," he added.

The president also said he will "substantially" cut taxes for all domestic producers of oil and gas.

He also promised to fill up the Strategic Petroleum Reserve fast.

"The world runs on low-cost energy, and energy producing nations like us have nothing to apologize for. We have more energy than any other nation in the world, and we're going to use it," he said.

The "best and most successful" business leaders on Earth are now racing to invest in the US, he noted, saying: "I'm committed to making America the crypto capital."