By Admin 
Trump Tariff: US President Donald Trump has said that he can put tariffs on pharmaceuticals by the end of this month. Also, the tariff will be announced soon on the semiconductor. These new rates will be levied with reciperook tariffs to be implemented from August 1.
Companies will be given one year time
While returning to Washington after attending the Artificial Intelligence Summit in Pittsburgh, Trump told the reporters, “Perhaps by the end of this month we can start with a low tariff.” Medicine companies will give one year or more time to make their factory in America. After this the tariff will be increased. Trump also revealed his plan to put tariffs on the semiconductor ie computer chips. He did not give much information about this. Just said that putting tariffs on chips is easier than applying tariffs on medicines.
Drugs imported in America will be expensive
In a cabinet meeting earlier this month, Trump said that he is planning to put 50 percent tariff on copper in the coming weeks. He will give the pharmaceutical companies one year to bring his factory back to America and after that it will increase the tariff. Trump has already announced an investigation of drugs under Section 232 of the 1962 Business Extension Act.
He argues that large -scale imports from abroad are a threat to national security. Trump’s tariff will affect pharmaceutical companies like Elli Lily & Co., Merc & Co. and Fizer Inc., which makes their medicines in other countries. This will also increase the expenditure on medicines for American consumers. Trump’s aim behind doing so is to promote American industries and increase production in their country.
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