President Donald Trump is upping the ante with tariffs, promising new import duties on semiconductors and pharmaceuticals.
During a phone interview with CNBC’s “Squawk Box,” Trump said he’d raise import duties on computer chips and drugs, potentially up to 250% to drive manufacturing in those industries back into the U.S.
“[Switzerland] makes a fortune with pharmaceuticals, and they make our pharmaceuticals in China and Ireland and everything else, and within the next week or so we’re going to be announcing tariffs,” Trump said.
.@POTUS: “Within the next week or so, we’re going to be announcing tariffs on pharmaceuticals… We want pharmaceuticals made in our country.” pic.twitter.com/KNiwsPbPH2
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— Rapid Response 47 (@RapidResponse47) August 5, 2025
He recounted a conversation with Swiss Confederation President Karin Keller-Sutter, saying she
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