Washington: The Trump administration on Monday took steps that are likely to result in a new tariff on semiconductors and pharmaceutical products, which the President adds to import imports globally.
The Federal notice online said that the administration has launched a national security check in imports of chips and pharmaceuticals. Trump has suggested that those investigations may result in tariffs.
The investigation will also cover the semiconductor, the machinery used to make chips and pharmaceutical materials. White House spokesman Kush Desai said that the President has long been clear about the importance of important construction for the national and economic security of our country. ” The new tariff will be issued under Section 232 of the 1962 Trade Extension Act, which allows the President to impose tariffs to protect US national security.
