Trump threatens to impose drugs and chips on August 1 | Trump tariffs

Donald Trump threatens to impose tariffs on pharmaceutical products and semiconductors on August 1, Latest deadline In order to introduce his “reciprocal” taxation on various countries.

The U.S. president told reporters late Tuesday that a “imported drug import tax” could be announced, “probably at the end of this month, we will start with low tariffs and provide pharmaceutical companies with about a year to build, and then we will make it high tariffs.”

He added that his timeline for levying fees on semiconductors, as he believes that imposing tariffs on chips required for all electronic devices is “less complex” but does not provide more details.

Trump told his cabinet meeting earlier this month that he hopes to raise tariffs on drugs Up to 200%once he gave a year and a half to the pharmaceutical company, bringing its manufacturing industry to the United States. He also threatened to import 50% tariffs on copper to increase U.S. metal production.

Trump administration Investigation begins in April Importing drugs and semiconductors to the United States under Section 232 of the Trade Expansion Act of 1962 is part of an attempt to impose tariffs on both sectors on national security grounds.

Any taxation on drugs is expected to attack Eli Lilly, Pfizer and Merck, which include Overseas production locationalthough such a move risks increasing prices for American consumers. Any tariffs on semiconductors are expected to affect chip manufacturers, as well as smartphones and computers such as Apple and Samsung.

Trump’s latest pledge to escalate the global trade war as U.S. trading partners are waiting for a temporary pause in the “countdown” tariffs announced on April 2, after a deadline that was extended from July 9, with a deadline of August 1.

This also coincides with the White House’s investigation into Brazil’s trade practices, which is called unfair. According to one, investigators will study Brazilian government policies “related to digital trade and electronic payment services; unfair, preferential tariffs; anti-corruption interference; intellectual property protection; ethanol market acquisition; and illegal deforestation” Statement of the Trade RepresentativeJamieson Greer, and whether these restrict U.S. trade.

He cited “Brazil’s attacks on American social media companies and other unfair trade practices that would harm U.S. companies, workers, farmers and technological innovators.”

Trump announced 50% tariffs on Brazil last week, despite its trade deficit with the United States, citing a “witch hunt” against the country’s former president Jair Bolsonaro.

Trump said Tuesday A trade agreement with Indonesia reached After negotiations, tariff rates on goods in the country were lowered.

Trump said in a social media post that Southeast Asian countries have made billions of dollars in commitments to buy U.S. energy, agricultural products and 50 Boeing jets. As a result, Indonesian goods entering the United States will face 19% tariffs, significantly lower than the 32% previously threatened.

In early July, the president announced plans U.S. tariffs up to 40% Regarding the imports from 14 countries including Bangladesh, Japan and South Korea, but he said he allowed more time to negotiate.

After Trump threatens 30% tax rate for EU goods Eliminate transatlantic trade.

EU Trade Commissioner Maroššefčovič said the group will use a “negotiation solution” by August 1 to ensure transatlantic trade (£3.8 billion per day (£3.8 billion per day), and transatlantic trade continues.

Despite the fact that Gibb “Trump is always a chicken” In the tariff war – Tacos for short – the lack of widespread retaliation of U.S. trading partners over the rapid tariff rates mean that the United States has been able to raise nearly $50 billion (£37.3 billion) in other customs revenues so far.

According to the U.S. Treasury Department, U.S. tax revenue was $64 billion, $47 billion higher than revenue in the same period last year. The Financial Times emphasizes. So far, only China and Canada have vowed to impose retaliatory tariffs on U.S. goods entering their country.