US president Donald Trump said on Tuesday he is planning to announce tariffs on imported semiconductor and pharmaceuticals, saying the rate for medicines could reach 200 per cent but that he would give drugmakers about one year “to get their act together”.
“We’re going to give people about a year, a year and a half to come in and, after that, they’re going to be tariffed,” Trump told reporters, speaking at a meeting of his cabinet at the White House.
“If they have to bring the pharmaceuticals into the country ... they’re going to be tariffed at a very, very high rate, like 200 per cent. We’ll give them a certain period of time to get their act together,” he said.
“We’re going to be announcing pharmaceuticals, chips and various couple of other things - you know, big ones,” Trump told reporters, while announcing a new tariff rate for copper.
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He did not offer specifics on when the other announcements would come. - Reuters
