U.S. President Donald Trump said on Tuesday that planned tariffs on imported pharmaceuticals could rise as high as 250%, as his administration finalizes investigations into national security risks tied to foreign supply chains.
In an interview with CNBC, Trump said the tariffs would start at a lower rate but escalate over time as part of a broader effort to encourage domestic manufacturing.
“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 plans to introduce new tariffs on foreign-made semiconductors, though he did not provide specific figures.
The move follows earlier national security reviews into the sourcing of critical technologies, including chips and medical products.
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In addition, Trump said he expects to impose steep tariffs on imports from India “very substantially over the next 24 hours,” citing the country’s continued purchases of Russian oil despite Western sanctions.
The latest proposals are part of a wider tariff strategy Trump initiated in April, which applied a general 10% levy on most U.S. trading partners.
That wave of duties notably excluded sectors like pharmaceuticals, chips, and autos, which are being targeted with separate investigations and phased actions.
So far, Trump has already imposed tariffs of 50% on imported steel and aluminum and introduced a lower-rate duty on automobiles and auto parts.
Analysts say the new pharmaceutical and semiconductor tariffs, if enacted, could significantly raise costs for U.S. companies reliant on foreign supply chains, particularly from India, China, and Southeast Asia.