U.S. President Donald Trump said that pharmaceutical imports could face tariffs of up to 200%, with details expected by the end of July following an ongoing national security review.
Speaking at a Cabinet meeting at The White House on Tuesday, Trump said drugmakers would have a year to shift supply chains before facing steep tariffs.
“If they have to bring the pharmaceuticals into the country … they’re going to be tariffed at a very, very high rate, like 200%,” he said.
Trump also indicated new levies on imported semiconductors and other goods were being prepared, without giving precise timelines. A new tariff rate on copper was also announced during the meeting.
Commerce Secretary Howard Lutnick later told CNBC that final decisions on pharmaceutical and semiconductor tariffs would come once ongoing studies conclude later this month. “The president will then set his policies,” he said.
The administration launched a formal investigation into pharmaceutical supply chains in April, arguing that foreign reliance on medicine production poses a national security threat. The Commerce Department is leading the review but has not yet released its findings.
The proposal, if enacted, would represent a significant shift in U.S. trade policy on health products and comes amid wider efforts to increase domestic manufacturing across strategic industries.
Hungary's parliament on Monday approved a constitutional amendment limiting prime ministers to a maximum of eight years in office, a move that effecti...
The United Nations Security Council unanimously extended the United Nations Assistance Mission in Afghanistan (UNAMA) until 17 June 2027 in New York o...
The first day of the Group of Seven (G7) summit in Évian-les-Bains, France, was dominated by discussions on the Middle East, Ukraine and the global e...
The FIFA World Cup 2026 produced drama and surprises on 14-15 June, with Iran fighting back to draw 2-2 with New Zealand, Ivory Coast scoring a stoppa...
Firefighters and workers were clearing debris on Monday after what Ukraine described as a deliberate Russian strike severely damaged a nearly 1,000-ye...
Hungary's parliament on Monday approved a constitutional amendment limiting prime ministers to a maximum of eight years in office, a move that effectively prevents former premier Viktor Orbán from returning to the country's top political post.
The United Nations Security Council unanimously extended the United Nations Assistance Mission in Afghanistan (UNAMA) until 17 June 2027 in New York on Monday, preserving its humanitarian, rights and political work.
The first day of the Group of Seven (G7) summit in Évian-les-Bains, France, was dominated by discussions on the Middle East, Ukraine and the global economy, as leaders grappled with multiple crises that have reshaped the international landscape.
The FIFA World Cup 2026 produced drama and surprises on 14-15 June, with Iran fighting back to draw 2-2 with New Zealand, Ivory Coast scoring a stoppage-time winner over Ecuador, Sweden thrashing Tunisia 5-1, and debutants Cape Verde holding Spain to a goalless draw.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
Firefighters and workers were clearing debris on Monday after what Ukraine described as a deliberate Russian strike severely damaged a nearly 1,000-year-old cathedral in Kyiv, one of the country's most important religious and cultural landmarks.
One month after Ebola cases were confirmed in eastern Democratic Republic of the Congo, health officials and aid organisations say the true extent of the outbreak remains unclear because of major gaps in testing, reporting and disease surveillance.
The first day of the Group of Seven (G7) summit in Évian-les-Bains, France, was dominated by discussions on the Middle East, Ukraine and the global economy, as leaders grappled with multiple crises that have reshaped the international landscape.
Pakistan's political leadership on Monday welcomed a breakthrough agreement between the U.S. and Iran aimed at ending more than three months of conflict, with Prime Minister Shehbaz Sharif describing it as a major diplomatic success and a victory for peace.
Hungary's parliament on Monday approved a constitutional amendment limiting prime ministers to a maximum of eight years in office, a move that effectively prevents former premier Viktor Orbán from returning to the country's top political post.
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