Trump: "Tariffs on pharmaceuticals to be raised up to 250%"

Semiconductor tariffs to be announced next week

Also boasts about "opening the closed Korean market"

President Donald Trump of the United States has signaled plans to implement tariffs as high as 250% on imported pharmaceuticals.

In an interview with CNBC, an American business media outlet, on the 5th, President Trump stated, "At first, we will impose 'small tariffs,' but within a year to a year and a half, we'll raise it to 150%, and later on, increase it up to 250%." This would be the highest level of tariffs President Trump has mentioned to date. Although he did not specify the initial rate, he said the reason for imposing the tariffs was "because we want pharmaceuticals that are made in our own country."

However, CNBC noted, "President Trump has previously threatened tariffs several times, only to reverse his position afterwards," and questioned, "It is unclear whether the tariffs will actually be increased to 250%." Earlier last month, President Trump also declared plans to impose a 200% tariff on pharmaceuticals. On the 28th of last month, he announced that a decision on pharmaceutical tariffs would be made very soon. At the time, he said, "COVID-19 taught us a lesson," and explained, "We used to import pharmaceuticals from other countries, but now we want to produce most of them ourselves again."

In the same interview, President Trump stated that he would announce tariffs on semiconductors next week. He did not disclose specific ranges or figures. Regarding the reason for imposing tariffs, he said, "Because we want them manufactured in the United States."

President Trump also boasted about the trade agreements he had spearheaded, emphasizing, "South Korea used to be a closed country, but now suddenly we are able to sell cars, trucks, and SUVs (sport utility vehicles) in South Korea," and declared, "We are truly opening South Korea."

Han Kyungjae, hankyung@hankyung.com