Overview

• President Donald Trump said he will start with modest tariffs on imported pharmaceuticals that will rise to 150% within a year and to 250% by 18 months to incentivize U.S. production.
• He announced that new duties on foreign semiconductors and computer chips will be unveiled “within the next week or so,” though specific rates remain undisclosed.
• Swiss officials, led by Karin Keller-Sutter, are traveling to Washington to seek exemptions, noting that pharmaceuticals accounted for 60% of Swiss exports to the United States last year.
• Trump warned of “very substantial” tariff increases on Indian imports within 24 hours over New Delhi’s purchases of Russian oil.
• These latest threats extend a broader tariff campaign that already includes a 10% general levy and steep duties on steel, aluminum and autos, raising concerns about inflation and supply-chain disruption.