President Donald Trump said Tuesday that the United States will soon announce “significant” tariffs on pharmaceutical imports.
Trump said during an event held by the National Republican Congressional Committee that tariffs will incentivize pharmaceutical companies to transfer their businesses to the U.S.
Trump also said he told Taiwanese semiconductor manufacturing companies that they would pay up to 100% tax if they did not build factories in the United States.
Trump criticized former President Joe Biden’s administration for providing $6.6 billion in grants to TSMC’s U.S. semiconductor production division in Phoenix, Arizona, at an event held by the Republican National Congress Committee, saying semiconductor companies don’t need the money.
