The Trump administration initiated investigations into pharmaceutical and semiconductor imports, potentially leading to tariffs on national security grounds. Notices filed with the Federal Register set a 21-day public comment period before implementing levies under Section 232 of the 1962 Trade Expansion Act. This follows similar investigations into other sectors, resulting in tariffs on steel, aluminum, and autos. While pharmaceuticals and semiconductors were previously exempt, Trump announced upcoming semiconductor tariffs, causing concern among industry groups who warn of potential shortages, price increases, and reduced patient access to affordable medicines. The drug industry is lobbying for phased tariffs to ease the transition.

Prepared by Christopher Adams and reviewed by editorial team.