Trump Targets Semiconductors, Pharmaceuticals for Tariffs Amid EU Progress

The United States, under President Donald Trump, is advancing plans to impose tariffs on imports of semiconductors and pharmaceuticals, utilizing Section 232 of the Trade Expansion Act due to national security concerns. The U.S. Department of Commerce has initiated investigations to evaluate the impact of these imports. Trump has announced that tariffs on pharmaceuticals are imminent, with the goal of boosting domestic production and decreasing reliance on countries like Ireland and China. He stressed that higher tariffs would hasten the relocation of drug manufacturing back to the U.S. The administration is also targeting semiconductors, vital for national security, with tariffs expected to be detailed soon. Amidst these developments, White House economic adviser Kevin Hassett reported 'enormous progress' in tariff negotiations with the European Union. However, the focus on semiconductors and pharmaceuticals indicates a continued aggressive trade policy approach, which could impact global markets and supply chains.