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Donald Trump Tariffs Live: Pharma tariffs to reach 250%, warns Trump

On Tuesday, US President Donald Trump announced plans to implement a graduated tariff system on pharmaceutical imports, beginning with a modest rate before escalating to 150% within 18 months and ultimately reaching 250%. “We want pharmaceuticals made in our country,” Trump told CNBC.

The initial tariff percentage remained unspecified in his announcement. This follows his previous statements, including a February declaration suggesting sectoral tariffs on pharmaceuticals and semiconductor chips would begin at “25% or higher” with substantial increases over a year’s time.

His earlier projection in the previous month had indicated a possible 200% ceiling. Trump also indicated his intention to reveal semiconductor and chip tariffs in approximately a week, without providing additional information.

The pharmaceutical sector remains under national security assessment in the United States, with industry participants preparing for potential sector-specific duties. The timeline for releasing this investigation’s findings remains undisclosed.