President Trump announced plans to impose tariffs on pharmaceutical imports, starting with a small initial tariff, escalating to 150% and potentially reaching 250% within 18 months. He indicated that these tariffs, along with those on semiconductors, would be revealed soon. This follows previous Section 232 investigations into pharmaceutical and semiconductor imports, which have previously resulted in tariffs on other sectors like steel and copper. Trump has consistently threatened high levies on pharmaceuticals, citing intentions for significant tariff rates.

Source: https://www.supplychaindive.com/news/trump-threatens-pharmaceutical-tariffs-250-percent-semiconductors/756814/