WASHINGTON— U.S. President Donald Trump announced that his administration may begin imposing tariffs on pharmaceutical imports by the end of this month, with a similar timeline expected for semiconductor tariffs.
Speaking to reporters after returning from a public event in Pittsburgh, Trump suggested the tariffs on pharmaceuticals would be introduced gradually, giving companies time to relocate manufacturing to the United States.
“Probably at the end of the month. We’re going to start off with a low tariff and give pharmaceutical companies a year or so to build, and then we’re going to make it a very high tariff,” he said.
Trump added that the timeline for semiconductor tariffs was “similar,” though he described the process of imposing duties on chips as “less complicated,” without elaborating further.
Last week, Commerce Secretary Howard Lutnick confirmed that national security investigations into pharmaceutical and semiconductor imports would be completed by the end of July — a signal that tariff announcements could be imminent.
These investigations were launched in April under Section 232 of the Trade Expansion Act of 1962, which grants the president authority to adjust imports if they are found to pose a threat to national security.
Earlier this month, Trump also announced plans to impose a 50 percent tariff on copper and suggested pharmaceutical tariffs could rise as high as 200 percent after giving companies a year to shift production to U.S. soil.
The administration has already initiated Section 232 probes on pharmaceutical imports, citing concerns that an overreliance on foreign drugs could jeopardize national security. (Source: IANS)
