Former U.S. President Donald Trump has announced plans to significantly hike tariffs on imported pharmaceuticals, potentially reaching as high as 250 percent. In an interview with CNBC on Tuesday, Trump stated the new tariffs would begin at a modest rate but escalate sharply within 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 percent,” Trump said. “And then it’s going to go to 250 percent because we want pharmaceuticals made in our country.”
Trump also revealed that new tariffs targeting foreign semiconductors would soon be unveiled as part of a broader strategy to boost domestic manufacturing and protect national security.
In the same interview, he warned of an imminent increase in tariffs on Indian imports, citing India’s continued purchases of Russian oil. “I expect to raise the US tariff on Indian imports very substantially over the next 24 hours,” he said.
These latest developments follow a pattern of product-specific tariff hikes under Trump’s trade policy. In April, a 10-percent levy was imposed on nearly all U.S. trading partners, excluding items like pharmaceuticals and semiconductors, which are being handled separately following national security reviews.
Previously, Trump had enforced a 50 percent tariff on imported steel and aluminum and introduced separate duties on autos and auto parts.
Analysts say these moves could escalate trade tensions and disrupt global supply chains, especially in the pharmaceutical and technology sectors.
