Trump Plans Tariffs On Pharmaceuticals From August 01, Semiconductor To Follow
President Trump may impose tariffs on pharmaceuticals by month's end, with similar measures for semiconductors to follow.
Trump Tariffs: President Donald Trump indicated that he may impose tariffs on pharmaceuticals by the end of this month, with similar measures for semiconductors potentially following soon. These import taxes could coincide with broader 'reciprocal" rates set to be implemented on August 1.
Speaking to reporters on Tuesday after returning from an artificial intelligence summit in Pittsburgh, Trump mentioned the plan to start with a low tariff on pharmaceuticals, allowing companies a year to adjust before raising the tariff significantly.
Semiconductor Tariffs
Regarding semiconductors, Trump noted that his timeline for implementing tariffs was 'similar" and described the process of imposing levies on chips as 'less complicated," without offering further details.
New Wave Of Tariffs
US President Donald Trump announced a new wave of tariffs on several countries, intensifying his aggressive trade strategy aimed at forcing what he calls 'fair and reciprocal" treatment for American goods. The latest round includes new duties on Sri Lanka, Algeria, Iraq and Libya- each set at 30 percent- as well as 25 percent tariffs on Brunei and Moldova and a 20 percent rate on the Philippines.
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First Published:
July 16, 2025, 08:19 IST
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