Washington, July 16 – President Donald Trump said the U.S. may begin adding tariffs on drug and semiconductor imports by the end of July. The move is aimed at pushing companies to shift production to the U.S.
He said the plan starts with low drug tariffs, giving firms a year to build U.S. factories, before raising the rate sharply — possibly up to 200%. Chip tariffs will follow a similar path, though Trump called them “less complicated.”
Commerce Secretary Howard Lutnick confirmed the tariff decisions are based on national security reviews under Section 232 of the 1962 Trade Expansion Act. Trump earlier announced a 50% copper tariff and continues to argue that heavy imports in key sectors put U.S. security at risk.
