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Trump Plans to Implement More Tariffs Despite Rising Inflation

On July 16, 2025, President Donald Trump announced plans to impose tariffs on pharmaceutical imports at the end of the month, noting a `similar` schedule for semiconductors.
A review under the Trade Expansion Act revealed that investigations under Section 232 prompted the tariff proposal as a national security measure, and during a cabinet meeting earlier this month Trump said rates could reach 200%.
On the White House's Rapid Response account, President Donald Trump said tariffs would start low with a year-long grace period before rising sharply, urging companies to move back to America.
Latest inflation figures indicate, and according to the Kaiser Family Foundation nearly one in four Americans report skipping doses due to cost.
Looking ahead to next month, Trump said he could finalize two or three trade deals, with an India agreement likely, while full U.S. pharmaceutical supply chain rebuilding could take years.

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