Trump Signals New Tariffs on Pharmaceuticals and Semiconductors

In a recent statement, U.S. President Donald Trump revealed plans to impose tariffs on foreign pharmaceuticals by the end of this month, with semiconductors next in line. This move is part of a broader strategy to encourage domestic production.

Pharmaceutical Tariffs to Start Low, Then Increase

Trump explained that the administration would initially set low tariffs on pharmaceuticals, giving companies about a year to establish production lines in the U.S. before significantly increasing the rates.

Semiconductors Next on the List

When asked about semiconductors, Trump mentioned a similar approach, describing it as 'less complicated' compared to pharmaceuticals.

Reciprocal Tariffs for Smaller Nations

Additionally, Trump plans to impose a flat reciprocal tariff rate of just over 10% on certain small countries, with official notifications to be sent soon.