Trump Plans High Tariffs on Semiconductors and Pharmaceuticals
President Donald Trump announced plans to impose high tariffs on imported semiconductors and pharmaceuticals, with rates potentially reaching 200%. Pharmaceutical companies have roughly a year to adjust before these tariffs are enforced. Details on additional tariffs are forthcoming, including new rates for copper.
U.S. President Donald Trump revealed plans on Tuesday to implement significant tariffs on imported semiconductors and pharmaceuticals, with the potential rate for medicines reaching as high as 200%.
Speaking at a White House Cabinet meeting, Trump noted that pharmaceutical companies will have approximately a year to adapt to these changes. 'After this grace period, products brought into the country will face substantial tariffs,' he stated.
In addition to announcing these measures, Trump mentioned forthcoming tariffs on copper and other unspecified imports, though details remain undisclosed.
(With inputs from agencies.)
Advertisement
ALSO READ
Evacuation Amid Rising Tensions: U.S. Citizens Depart Israel
Western U.S. Governors United Against Public Land Selloff
Global Markets Surge as U.S. Brokers Middle East Ceasefire
U.S. Supreme Court Greenlights Trump's Mass Deportation Strategy
Trump Claims Ceasefire Amid Escalating U.S., Iran Tensions
Google News