U.S. President Donald Trump has announced that his administration may begin imposing tariffs on pharmaceutical imports and semiconductors by the end of July, citing national security concerns.
Speaking to reporters after returning from a public event in Pittsburgh, Trump said pharmaceutical tariffs will start low but could rise as high as 200% after a year, giving companies time to shift production back to the United States.
&ldquo;Probably at the end of the month&hellip; we&rsquo;re going to start off with a low tariff and give pharmaceutical companies a year or so to build, and then we&rsquo;re going to make it a very high tariff,&rdquo; Trump stated.
He added that tariffs on semiconductors would follow a &ldquo;similar&rdquo; timeline, noting it would be &ldquo;less complicated&rdquo; to implement levies on chips.
Commerce Secretary Howard Lutnick had earlier confirmed that national security probes into pharmaceutical and chip imports, launched in April under Section 232 of the Trade Expansion Act of 1962, would conclude by the end of the month.
Trump has already cited foreign drug imports as a threat to U.S. national security. Under Section 232, the president is empowered to adjust imports that are deemed harmful to national interests.
The administration is also preparing a 50% tariff on copper, following similar reasoning under Section 232. The escalating trade actions signal a major push by Trump to boost domestic manufacturing ahead of the 2024 election season.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]

Trump Signals Tariffs on Pharma, Chips by Month-End

Trump hints at phased pharma tariffs, semiconductor levies under national security law

Trump Signals Tariffs on Pharma, Chips by Month-End

Trump hints at phased pharma tariffs, semiconductor levies under national security law

July 16, 2025 | 15:33 IST