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United States President Donald Trump disclosed his intention to impose tariffs on pharmaceuticals as early as the end of this month, with the potential for similar taxation measures on semiconductors to follow shortly. He suggested that these import taxes could coincide with the broader "reciprocal" tariffs scheduled to take effect on August 1. Upon his return to Washington from the artificial intelligence summit in Pittsburgh, Trump told reporters that tariffs might initially be set at a low rate, allowing pharmaceutical companies roughly a year to prepare before they significantly escalate. He further indicated that the timeline for implementing tariffs on semiconductors mirrors that of pharmaceuticals, noting that the process for imposing chip tariffs is relatively straightforward, though he refrained from elaborating further.
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