Melissa a Category 4 hurricane as Caribbean braces for impact
Hurricane Melissa has intensified into a Category 4 storm, packing winds of up to 140 mph (220 km/h) and is expected to strengthen further as it appro...
Donald Trump told CNBC on Tuesday that the U.S. will impose new import tariffs on pharmaceuticals and chips “within the next week or so”. He said the measures were designed to reduce reliance on foreign supply chains and bring production back to the United States.
In an interview with CNBC, Trump said the initial tariff on pharmaceuticals would be relatively small but would increase significantly.
"In one year, one and a half years, maximum, it's going to go to 150 percent, and then it's going to go to 250 percent because we want pharmaceuticals made in our country," he said.
The president also signalled similar measures for semiconductor imports, though exact figures and timelines were not disclosed.
"We'll be putting an initially small tariff on pharmaceuticals," he added, "but semiconductors and chips will also be addressed very soon."
Trump stressed that his tariff agenda is far from over, indicating more protectionist measures could follow.
"We're just getting started," he said.
These comments came shortly after the administration imposed new duties on a broader list of imports from various countries. They also followed a weaker-than-expected U.S. jobs report for July. The Labour Department revealed not only a lower-than-forecast jobs gain but also downward revisions to June and May employment data, casting doubts on the strength of the U.S. economic recovery.
The pharmaceutical industry in the U.S. relies heavily on imports, with India and China among the major suppliers of generic drugs and active pharmaceutical ingredients (APIs). Similarly, the U.S. semiconductor industry is dependent on overseas manufacturing, particularly in Taiwan and South Korea.
Analysts say the proposed tariffs could disrupt supply chains, raise consumer prices, and trigger retaliatory trade measures unless carefully implemented. A White House spokesperson declined to comment further on specifics of the tariff rollout when contacted.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
A Czech fundraising drive has raised more than €500,000 in 48 hours to buy a Flamingo cruise missile for Ukraine, organisers said.
Democratic California Governor Gavin Newsom said in a Sunday interview that he is considering a run for the U.S. presidency in 2028, adding that he will make a decision after the 2026 midterm elections.
Argentines headed to the polls on Sunday for midterm legislative elections, a key test of President Javier Milei’s sweeping free-market reforms and austerity drive, and a measure of whether he retains enough political momentum to push forward with his economic overhaul.
Hurricane Melissa has intensified into a Category 4 storm, packing winds of up to 140 mph (220 km/h) and is expected to strengthen further as it approaches Jamaica, the U.S. National Hurricane Center (NHC) said on Sunday.
Israeli Prime Minister Benjamin Netanyahu said on Sunday that Israel will decide which foreign forces can participate in the planned international mission in Gaza, aimed at securing a fragile ceasefire under U.S. President Donald Trump’s peace plan.
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