"Pharmaceuticals to Start with Low Tariffs,
Set to Rise Significantly After One Year"
U.S. President Donald Trump announced that he plans to impose itemized tariffs on foreign pharmaceuticals as early as the end of this month.
On the 15th (local time), after attending an event in Pittsburgh and returning to Washington, D.C., President Trump was asked by reporters about the plan to impose tariffs on pharmaceuticals. He stated, "It will probably be at the end of this month."
President Trump said, "We will start with low tariffs and give pharmaceutical companies about a year to build production lines in the United States. After that, we will impose very high tariffs." He also added that the schedule for imposing itemized tariffs on foreign semiconductors is "similar" to that for pharmaceuticals, and "less complicated."
In addition, President Trump stated that a uniform reciprocal tariff rate of just over 10% will be applied to "small countries" in Africa, the Caribbean, and surrounding regions, and that tariff letters will soon be sent to the target countries. Previously, on the 7th, President Trump announced that he had sent letters specifying reciprocal tariff rates to 25 countries, starting with 14 countries including South Korea and Japan, and that reciprocal tariffs would be imposed starting from the 1st of next month.
On this day as well, President Trump reaffirmed the schedule for imposing reciprocal tariffs and introduced that, in addition to the United Kingdom, Vietnam, and Indonesia, with which trade agreements have already been reached, the United States is conducting additional trade negotiations with five to six more countries.
President Trump also revealed that U.S. weapons destined for Ukraine have already begun shipping, and stated that the costs related to these weapons will be borne by other member countries of the North Atlantic Treaty Organization (NATO). He reiterated that there will be no deployment of U.S. troops to Ukraine.
Regarding nuclear negotiations with Iran, President Trump stated that the United States is not in a hurry to engage in dialogue with Iran because Iranian nuclear facilities have already been destroyed.
Meanwhile, President Trump commented on U.S. Treasury Secretary Scott Besant, who is being mentioned as a possible successor to Jerome Powell, the Federal Reserve Chair who has not accepted Trump's calls for a rate cut. He said, "He is one of the options," but added, "I don't think it will be him, because I like the job he is doing as Treasury Secretary."
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