Trump plans 200% tariff on imported drugs and new levies on chips

AWANI

President Donald Trump announced plans to impose a 200% tariff on imported pharmaceuticals and new tariffs on semiconductors, giving drugmakers up to 18 months to relocate production back to the U.S., as part of a broader push to revive domestic manufacturing in critical sectors like healthcare and technology, with the move expected to trigger global trade tensions and impact supply chains across multiple industries.

Transcript

00:00Trump on Tuesday said he is planning to announce tariffs on imported semiconductor and even pharmaceuticals,

00:08saying the rate for medicines could reach 200%, but that he would give drug makers about one year to get their act together.

00:19And we'll be announcing something very soon on pharmaceuticals.

00:23We're going to give people about a year, a year and a half to come in,

00:26and after that, they're going to be tariffed if they have to bring the pharmaceuticals into the country,

00:30the drugs and other things into the country.

00:33They're going to be tariffed at a very, very high rate, like 200%.

00:36We'll give them a certain period of time to get their act together.

00:40But they were all here. Now they all left.

00:41They went to other places because we allowed people that sat in this room allowed it to happen.

00:48And I don't allow it to happen. The people in this room don't allow it to happen.

00:52So we're going to be announcing pharmaceuticals, chips, and various couple of other things.

Category

Transcript

Be the first to comment

Recommended