U.S. President Donald Trump has announced plans to significantly raise tariffs on imported pharmaceuticals, warning that levies could climb to as high as 250% in a bid to encourage domestic drug manufacturing.
In an interview with CNBC on Tuesday, Trump said the tariffs would start at a modest level but would escalate over time. “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,” he stated. “And then it’s going to go to 250 percent because we want pharmaceuticals made in our country.”
Trump also revealed intentions to introduce new tariffs on foreign-made semiconductors as part of a broader push to strengthen U.S. supply chains in strategic industries.
Additionally, he indicated that tariffs on Indian imports could be raised “very substantially” within 24 hours, citing India’s continued purchases of Russian oil as a driving factor.
The remarks come as part of Trump’s evolving trade strategy, which has seen targeted, sector-specific tariffs following national security investigations. His administration previously imposed steep duties—50% on imported steel and aluminum, and lower rates on autos and auto parts.
The proposed tariffs on pharmaceuticals and semiconductors follow separate government probes into the potential risks posed by dependency on foreign suppliers in those industries.
