WASHINGTON– U.S. President Donald Trump said his administration may begin imposing tariffs on pharmaceutical imports by the end of this month, with plans to gradually increase the rates to encourage domestic production. He also indicated a similar timeline for potential tariffs on semiconductor imports.
Speaking to reporters after returning from a public event in Pittsburgh, Trump stated, “Probably at the end of the month, and we’re going to start off with a low tariff and give pharmaceutical companies a year or so to build. Then we’re going to make it a very high tariff.”
He added that the timeline for implementing semiconductor tariffs would be “similar,” noting that imposing levies on chips is “less complicated,” though he did not provide further details.
Trump’s comments follow recent remarks by Commerce Secretary Howard Lutnick, who confirmed that the administration’s national security investigations into pharmaceutical and semiconductor imports—initiated under Section 232 of the Trade Expansion Act of 1962—are expected to conclude by the end of the month. The law gives the president authority to restrict imports deemed to threaten national security.
At a Cabinet meeting earlier this month, Trump said he plans to impose a 50% tariff on copper in the coming weeks and suggested pharmaceutical tariffs could eventually rise as high as 200%—after allowing a one-year grace period for companies to shift manufacturing back to the U.S.
Trump has argued that the high volume of foreign drug imports poses a threat to national security and has used Section 232 to justify the investigations and proposed tariffs. (Source: IANS)
