US President Donald Trump said Tuesday that upcoming tariffs on imported pharmaceuticals could reach 250 percent, after starting at a lower level, while adding he plans to also unveil fresh duties on foreign semiconductors.
“And then it’s going to go to 250 percent because we want pharmaceuticals made in our country,” he added.
“We’ll be putting (an) initially small tariff on pharmaceuticals, but in one year, one-and-a-half years, maximum, it’s going to go to 150 percent,” Trump said in an interview on CNBC.
Already, Trump has slapped steep tariffs of 50 percent on imported steel and aluminum, and also rolled out a separate but lower duty on autos and parts.
