US President Donald Trump has announced plans to impose significant tariffs on imported pharmaceuticals, potentially reaching 250%, starting from a lower initial rate.
He also plans to introduce new duties on foreign semiconductors. According to Trump, tariffs on Indian imports would be raised substantially within 24 hours due to India’s purchases of Russian oil.
These sector-specific tariffs follow investigations into national security concerns and build on previous tariffs, including 50% tariffs on steel and aluminum and duties on autos and parts.
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