Trade Turmoil: Trump Targets Tech and Pharma Imports

The Trump administration is investigating the impact of imported computer chips and pharmaceuticals on national security, potentially leading to new tariffs. Probes include the risks of concentrated foreign chip production and heavy reliance on imported pharmaceutical ingredients, aiming to boost domestic manufacturing in these critical sectors.

The Trump administration has taken steps towards imposing more tariffs on crucial imports. Investigations have been launched into imports of computer chips, chip-making equipment, and pharmaceuticals.

The Department of Commerce has posted notices on the Federal Register, seeking public comment within three weeks. The investigations focus on how these imports impact national security.

The move, authorized by Section 232 of the Trade Expansion Act of 1962, could lead to tariffs on pharmaceutical drugs, lumber, copper, and computer chips. The intent is to boost domestic manufacturing and reduce reliance on foreign production.

(With inputs from agencies.)