Trump to impose pharma tariffs by August 1, semiconductors likely next

  • Posted on July 16, 2025
  • By Business News Today
  • 4 Views
Trump to impose pharma tariffs by August 1, semiconductors likely next

At a Cabinet meeting earlier this month, Trump said he planned to impose a 50% tariff on copper in the coming weeks, and that he expected pharmaceutical tariffs to grow as high as 200% after giving companies a year to bring manufacturing back to the US. Trump has already announced investigations under Section 232 of the Trade Expansion Act of 1962 on drugs, arguing a flood of foreign imports was threatening national security.
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