US President Donald Trump announced that new US tariffs for semiconductor and pharmaceutical imports would be stored “next week”.
This step is part of the wider administration strategy that uses business fees to return to the US and the target key economic sectors, PTI said.
Pharma to face high tariffs
In a recent interview with CNBC Trump, he outlined his tariff plan. “Originally, we will introduce a small drug tariff, but in one year – one and a half years, the maximum – it will go to 150% and then it will go to 250% because we want pharmacies made in our country,” he said.
The news report has stated that this is a recent Trump request that the main suppliers of drugs will drastically reduce costs or face other, unspecified sanctions.
The largest in the world, including Merck & Co. And Eli Lilly & Co., operates the scores of production points around the world. Almost 90% of American biotechnology companies, according to Biotechnology Innovation, relies on imported components for at least half of its approved products.
The semiconductors also focused
In addition to depositing tariffs on drugs, the president also revealed his plan to focus on the chips industry by saying: “We will announce semiconductors and chips, which is a separate category.”
The Sales Department has been investigating the semiconductor market since April to prepare the soil for possible tariffs for industry, which is expected to generate nearly $ 700 billion in global sales.
These fees could lead to a sharp increase in costs for the main data centers, including Microsoft Corp, Openi, Meta Platforms Inc and Amazon, which plan to invest billions of dollars in advanced semiconductors to drive their artificial intelligence.
Trump’s previous requirements
Unlike some previous tariffs specific to the administration that faced court challenges, these new sectoral tariffs have a stronger legal basis.
These sectoral tariffs for drugs, metals and other industries stem from business investigations that may take about nine months and are based on national security groups under section 232 of the Business Expansion Act. These so -called mutual tariffs are planned to come into effect on Thursday, PTI reported.
Trump’s administration has already used this authority to introduce car import fees and automatic parts, as well as steel and aluminum.
(Tagstotranslate) US tariffs
