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Trump Plans Tariffs Up to 100% on Foreign Chips, Pharma, Metals; Urges U.S. Production
President Donald Trump announced plans to impose tariffs on foreign computer chips, semiconductors, pharmaceuticals, and metals such as steel, aluminum, and copper, in an effort to bolster domestic manufacturing and enhance national security. Speaking on January 27, 2025, Trump stated that the tariffs, which could range from 25% to 100%, aim to encourage companies to build manufacturing plants in the United States. "If you want to stop placing the tariffs, you need to build the plant in the U.S.," he said. Trump emphasized that these measures would target countries posing security threats and those who "mean us harm." He also indicated that additional industries might be considered for tariffs. The president referred to the tariffs as a means to return the production of essential goods to America.
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