Trump administrator walks towards breast, semiconductor tariffs
Former Chrysler Chairman and CEO Bob Nardelli explains how President Donald Trump’s tariffs will affect the automotive industry “The Bottom Line.”
President Donald Trump’s administration is stepping up investigations into US semiconductors and drug imports this week, the latest indication that Trump is planning to strike the sector with tariffs this week.
With Monday’s submission to the Federal Register, the 21-day public comment period announced the probe’s public comment period for both import sets. Trump’s administration It argues that tariffs are necessary to ensure domestic production of medicines and semiconductors for national security reasons.
“We don’t make our own medicines, drugs, and other things to improve. They are made in other countries and you pay for the numbers. That means the same package in our country is sometimes 10 times, or more than 10 times higher than that in London or elsewhere.
“We are trying to tariff on medicines, and if we do that, they rush back to our country.
Trump’s mutual tariffs, additional Chinese taxes will take effect
President Donald Trump’s administration has cleared the way in which tariffs are imposed on semiconductor and drug imports. (Bear of courage)
Trump too On Sunday, the company aimed at semiconductors on Sunday, saying tariff levels would be announced within a week.
White House trade director says Trump is not planning on talking to Xi Jinping about the tariff war
“We didn’t want to synthesize it from many other companies. Chips and semiconductors Other things in our country,” Trump told reporters while on his way to the Air Force Sunday night.
In January alone, the US experienced a negative trade balance of $322 million in the semiconductor sector, exporting $521 million and importing $843 million, according to the Economic Complexity Observatory.
President Donald Trump says home-based production of medicines is a national security issue. (Getty Images/Getty Images)
“In the case of war, in any case, we will not rely on China or any other countries to supply drugs, but that’s not a good idea and it will happen very quickly,” the president said.
Trump specifically called for Ireland for “taking” a US pharmaceutical company when he hosted Ireland’s Prime Minister Micheal Martin in March.
“Irish people are smart, yes, clever people,” Trump said. “You’ve taken courses from our pharmaceutical companies and other companies… This beautiful island of 5 million people has an understanding of the entire US pharmaceutical industry.”
President Donald Trump and Ireland President Tao Zia Martin will speak with journalists ahead of a meeting in the Oval Office held at the White House on March 12, 2025. (Photo by Photo Somodevilla/Getty Images/Getty Images)
Click to get Fox Business on the Go here
“when Pharmaceutical Company I started going to Ireland, so if I wanted to go to Ireland, I would have said it was fine. I think that’s great. But if you want to sell something to the US, I will put a 200% tariff on you, so you won’t be able to sell anything to the US,” Trump added. They would have stayed here. ”
Fox News’ Emma Colton and Reuters contributed to this report