6 days Ago
The Trump administration is considering tariffs on pharmaceuticals and computer chips in the next few weeks and taking potentially similar action on lumber and copper. The new taxes on drugs and semiconductors appear likely to happen before the 90-day pause on most duties would end, complicating President Donald Trump's messaging over his trade policy. The president broadly exempted many computer chip-rich electronics from tariffs just a few days ago, but the White House says the new taxes are a national security issue.
Most pharmaceuticals are made in Europe, India, and China, while the majority of advanced semiconductors come from Taiwan and South Korea. Meanwhile, Trump hinted that he may be open to temporarily backing off on 25% auto tariffs, which a few weeks ago he called "permanent." The pause would give car companies more time to change their auto parts supply chains.
"I'm a very flexible person. I don't change my mind, but I'm flexible," Trump said Monday. The White House argues some tariffs are a tactic for negotiating better trade deals, leading to dozens of requests for talks from other countries.
Still, Trump refused to give an update on talks with China on Monday, where some imports are facing a 145% tax. He also underscored what he views as a good relationship with China's leader but then named China, Vietnam, and the European Union among the countries trying to "screw" the U.S.
.
