US Edition
Trump says pharma, chips tariffs coming in ‘next week or so’
UNITED STATES, AUG 5 – Tariffs on imported pharmaceuticals will start small and rise to 250% in 18 months to pressure drugmakers to lower U.S. prices and boost domestic production, officials said.
- US President Donald Trump announced tariffs on semiconductor and pharmaceutical imports will be revealed within the next week or so as part of a trade policy shift.
- President Donald Trump stated tariffs on pharmaceuticals would start small but increase to 250 percent over time to encourage domestic manufacturing of medicines.
- The US Department of Commerce has been investigating the semiconductor market since April, leading to potential tariffs on an industry generating nearly US$700 billion globally.
- The US trade deficit narrowed by 16% in June, reaching $60.2 billion, indicating reduced imports after a recent surge.
189 Articles
189 Articles
Drug Tariffs Cure Nothing and Are a Tax Increase
President Donald Trump has made no secret of his desire for sweeping tariffs on pharmaceuticals. Last month, the president threatened tariffs as high as 200% on imported drugs. The trade deal with the European Union (EU) finalized July 27 includes a 15% levy on medicines imported from the continent. Drug tariffs of any kind are bad policy. They are nothing more than a tax increase on every American who relies on medicine to manage or recover fro…
Trump's new tariff threat roils markets, sparks inflation fears
The US president's proposed tariffs against China, India and the EU, announced August 5 on CNBC, could reignite inflation and disrupt global trade flows, while potentially constraining Federal Reserve policy options, according to expert analysis.
Trump Threatens 250% Tariff on Drug Imports to Boost U.S. Production - News Facts Network
Donald Trump said Tuesday he plans to impose tariffs of up to 250% on pharmaceutical... The post Trump Threatens 250% Tariff on Drug Imports to Boost U.S. Production appeared first on News Facts Network.
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