Trump Unveils Sweeping Tariffs on Pharma, Tech

President Donald Trump has announced new tariffs on imported pharmaceuticals, starting at low rates by the end of July and potentially rising to 200% after a year, aiming to boost US drug production. Similar tariffs on semiconductors are planned, targeting both foreign manufacturers and US firms relying on imported chips, with both measures forming part of broader 'reciprocal' tariffs set to begin August 1. Shares of major European pharmaceutical companies have already dropped, and the EU, UK, and Ireland are preparing for economic fallout and possible counter-tariffs if negotiations stall. Trump has also threatened tariffs on copper and negotiated reduced tariffs with Indonesia in exchange for market concessions. Central bankers are warning that the escalating trade tensions risk harming global economic growth, while inflationary pressures are beginning to appear in US pricing data. The unfolding policy continues to drive uncertainty and volatility across key sectors.