Trump plans pharma tariffs by July-end, semiconductors next in line
US President Donald Trump announced plans to impose tariffs on imported pharmaceuticals likely by the end of July, with semiconductor tariffs expected to follow shortly thereafter. These levies could coincide with broad “reciprocal” tariff rates slated for implementation on August 1.
“Probably at the end of the month, and we’re going to start off with a low tariff and give the pharmaceutical companies a year or so to build, and then we’re going to make it a very high tariff,” Trump told reporters after returning from an artificial intelligence summit in Pittsburgh.
