Trump Plans Tariffs Of Up To 250% On Imported Drugs; Check Details

This announcement is the latest move in Trump’s strategy to compel pharmaceutical manufacturers to shift production back to the US, aiming to reduce foreign dependency in a critical sector

Trump also mentioned his intent to introduce fresh tariffs on foreign semiconductors and chips “in the next week or so”

Source : ANI

US President Donald Trump on Tuesday said that the United States could impose pharmaceutical import tariffs as high as 250 per cent, with the goal of reviving domestic drug manufacturing. The proposed tariff hikes come amid broader trade threats aimed at multiple countries, including India.

Speaking to CNBC, Trump stated that the new tariffs on imported pharmaceuticals would begin modestly but are set to rise significantly within the next year to 18 months.

“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 per cent and then it’s going to go to 250 per cent because we want pharmaceuticals made in our country,” he said.

This announcement is the latest move in Trump’s strategy to compel pharmaceutical manufacturers to shift production back to the US, aiming to reduce foreign dependency in a critical sector.

New Trade Tensions On Chips And India

Trump also mentioned his intent to introduce fresh tariffs on foreign semiconductors and chips “in the next week or so”, although he did not offer specifics. The move underscores his increasing emphasis on trade nationalism as a policy cornerstone. Trump has sharpened his rhetoric against India, threatening to “substantially raise” tariffs within 24 hours, accusing New Delhi of profiting from Russian oil imports.

India And Russia Push Back

India has strongly refuted Trump’s charges, calling them “unjustified and unreasonable”. The Ministry of External Affairs affirmed on Monday that the government would take all necessary actions to protect national interests and economic sovereignty.

Russia also entered the fray, condemning the US position as illegitimate. Kremlin spokesperson Dmitri Peskov said, “Sovereign nations must decide for themselves with whom they engage in trade and economic cooperation.”