Trump’s Latest Tariff Threat Puts Pharmaceuticals in Focus

President Donald Trump is keeping up the pace with seemingly a new tariff development every day. This time, he flagged that levies are coming on pharmaceuticals as soon as the end of the month and semiconductors could be next. That would tee them up to hit alongside broad “reciprocal” rates set for implementation on Aug. 1.

He reiterated a threat of “very high” import taxes kicking in eventually — he previously flagged tariffs as high as 200% after giving companies a year to move manufacturing to the US. Drugmakers like Eli Lilly, Merck and Pfizer could be impacted immediately, risking higher costs for US consumers.

The inflationary threat is compounded by the semiconductor tariffs, which are expected to affect not only the chips themselves but popular products like Apple and Samsung laptops and smartphones.