Please ensure Javascript is enabled for purposes of website accessibility

Texas Gov. Greg Abbott Signs Law Redrawing Congressional Maps

47 minutes ago

US Air Force will Offer Military Funeral Honors to Slain Capitol Rioter

2 hours ago

US Republican Senator Joni Ernst Will Not Run for Re-Election, CBS News Reports

4 hours ago

Wall Street Falls as Dell, Nvidia Drive Tech Losses

4 hours ago

US Denies Visas to Palestinian Officials Ahead of UN General Assembly

6 hours ago

Minneapolis Children Revealed Courage, Absorbed Fear During Church Shooting

1 day ago

Ford Recalls Nearly 500,000 Vehicles Over Brake Fluid Leak

1 day ago

Fresno-Bound Passenger Says Delta Attendant Slapped Him, Seeks $20M

1 day ago
US to Initially Impose 'Small Tariff' on Pharma Imports, Trump Says
Reuters logo
By Reuters
Published 3 weeks ago on
August 5, 2025

President Donald Trump speaks to reporters ahead of boarding Marine One to depart for New Jersey, at the White House in Washington, D.C., U.S., August 1, 2025. (Reuters/Jonathan Ernst)

Share

Getting your Trinity Audio player ready...

WASHINGTON — President Donald Trump said on Tuesday that the United States would initially place a “small tariff” on pharmaceutical imports before hiking it to 150% within 18 months and eventually to 250% in an effort to boost domestic production.

“In one year, one and a half years maximum, it’s going to go to 150% and then it’s going to go to 250% because we want pharmaceuticals made in our country,” Trump told CNBC in an interview.

He did not specify the initial tariff rate on pharmaceuticals. Trump said earlier this month that pharmaceutical tariffs could reach as high as 200%.

Trump also said he plans to announce tariffs on semiconductors and chips in the “next week or so,” but gave no further details.

The United States has been conducting a national security review of the pharmaceutical sector, and the industry has been preparing for possible sector-specific tariffs. The administration has not announced when the results of that probe will be released.

A framework agreement between the United States and the EU sets out that tariffs on pharmaceuticals and semiconductors are currently zero, but if the United States raises tariffs following its import investigation, they will be capped at 15%.

(Reporting by Patrick Wingrove in New York, Andrea Shalal in Washington and Bhargav Acharya in Toronto; Editing by Doina Chiacu and Mark Porter)

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Texas Gov. Greg Abbott Signs Law Redrawing Congressional Maps

DON'T MISS

Trump Cancels $4.9 Billion in Foreign Aid, Escalating Spending Fight with Congress

DON'T MISS

U.S. News Releases Best High School Rankings. How Did Fresno Schools Do?

DON'T MISS

Trump Ends Security Protection for Former Vice President Harris

DON'T MISS

Fresno Labor Day Traffic Alert for Motorists Using Maroa Avenue

DON'T MISS

Turkey Bars Israeli Ships from Its Ports and Restricts Airspace

DON'T MISS

UK, France, Germany Urge Iran to Agree to Deal to Delay UN Sanctions

DON'T MISS

US Air Force will Offer Military Funeral Honors to Slain Capitol Rioter

DON'T MISS

Fresno State Coordinators Outline Bulldog Bounceback for Georgia Southern

DON'T MISS

Gentle Sweet Sasha Is Guaranteed to Steal Your Heart

UP NEXT

Trump Cancels $4.9 Billion in Foreign Aid, Escalating Spending Fight with Congress

UP NEXT

Trump Ends Security Protection for Former Vice President Harris

UP NEXT

Fresno Labor Day Traffic Alert for Motorists Using Maroa Avenue

UP NEXT

Fresno State Coordinators Outline Bulldog Bounceback for Georgia Southern

UP NEXT

Gentle Sweet Sasha Is Guaranteed to Steal Your Heart

UP NEXT

Clovis Police to Increase DUI Patrols on Labor Day Weekend

UP NEXT

US Republican Senator Joni Ernst Will Not Run for Re-Election, CBS News Reports

UP NEXT

Wall Street Falls as Dell, Nvidia Drive Tech Losses

UP NEXT

Israeli Military Says Local Tactical Pause Will Not Apply to Gaza City

UP NEXT

Microsoft Fires Four Workers for on-Site Protests Over Company’s Ties to Israel

Trump Ends Security Protection for Former Vice President Harris

1 hour ago

Fresno Labor Day Traffic Alert for Motorists Using Maroa Avenue

2 hours ago

Turkey Bars Israeli Ships from Its Ports and Restricts Airspace

2 hours ago

UK, France, Germany Urge Iran to Agree to Deal to Delay UN Sanctions

2 hours ago

US Air Force will Offer Military Funeral Honors to Slain Capitol Rioter

2 hours ago

Fresno State Coordinators Outline Bulldog Bounceback for Georgia Southern

3 hours ago

Gentle Sweet Sasha Is Guaranteed to Steal Your Heart

3 hours ago

Clovis Police to Increase DUI Patrols on Labor Day Weekend

3 hours ago

US Republican Senator Joni Ernst Will Not Run for Re-Election, CBS News Reports

4 hours ago

Wall Street Falls as Dell, Nvidia Drive Tech Losses

4 hours ago

Texas Gov. Greg Abbott Signs Law Redrawing Congressional Maps

Texas Gov. Greg Abbott on Friday signed into law a bill to redraw the state’s congressional maps at the behest of President Donald Tru...

47 minutes ago

47 minutes ago

Texas Gov. Greg Abbott Signs Law Redrawing Congressional Maps

49 minutes ago

Trump Cancels $4.9 Billion in Foreign Aid, Escalating Spending Fight with Congress

Fresno area schools on U.S. News's Best High School Ranking
54 minutes ago

U.S. News Releases Best High School Rankings. How Did Fresno Schools Do?

1 hour ago

Trump Ends Security Protection for Former Vice President Harris

railroad crossing
2 hours ago

Fresno Labor Day Traffic Alert for Motorists Using Maroa Avenue

2 hours ago

Turkey Bars Israeli Ships from Its Ports and Restricts Airspace

2 hours ago

UK, France, Germany Urge Iran to Agree to Deal to Delay UN Sanctions

2 hours ago

US Air Force will Offer Military Funeral Honors to Slain Capitol Rioter

Search

Help continue the work that gets you the news that matters most.

Send this to a friend