Trump says pharmaceutical tariffs could reach 200%

Trump: Tariffs on imported drugs could reach 200 percent

WASHINGTON — U.S. President Donald Trump said Tuesday he plans to impose tariffs on imports of semiconductor chips and drugs. He said the tariffs on drugs could reach 200 percent, but he would give drug companies about a year to get their act together.

“We’re going to give the companies a year or a year and a half, and then after that, there will be a very high tariff — 200 percent — on drugs coming into the United States,” Trump said at a White House cabinet meeting.

“We’re going to have tariffs on drugs, on chips, and on a few other things that are important.”

The details of the drug tariffs are expected to be announced later this month.

US Commerce Secretary Howard Lutnick also said in an interview that studies on the drug and the chips are being completed and that Trump's final decision will be announced later.

Trump ordered an investigation into the pharmaceutical industry in April, citing the US's heavy reliance on overseas drug manufacturing as a threat to national security. The final report of the investigation has not yet been released by the US Commerce Department.

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