(MENAFN– KNN India)
New Delhi, Apr 4 (KNN) President Donald Trump has revealed that tariffs on pharmaceuticals and semiconductors will be announced soon, stating that the measures on pharmaceutical imports will be unprecedented.

Speaking to reporters aboard Air Force One, Trump hinted that these tariffs would be a game-changer.

“The chips are starting very soon. Pharma is going to start coming in at a level that we haven’t really seen before. We are looking at pharma right now,” Trump stated on Thursday evening (IST), emphasising that the policies were still under review.

Despite a recent stock market downturn, Trump reaffirmed his administration’s commitment to new trade restrictions. He confirmed that semiconductor tariffs would take effect“very soon” and signaled that pharmaceutical tariffs would follow.“Every country is calling us. That’s the beauty of what we do. We put ourselves in the driver’s seat,” he said.

The announcement follows the U.S. decision to impose reciprocal tariffs on over 180 countries. A universal 10 percent tariff on all imports was set to take effect on April 5, with additional tariffs from April 9.

Imports from India were hit with a 27 percent tariff, and a 25 percent duty on automobile imports was enforced on April 3.

Market reactions were swift. The Sensex plunged by 800 points to 75,500, while the Nifty 50 fell to 22,940 amid concerns over pharmaceutical tariffs. U.S. markets also faced steep declines, with the S&P 500 dropping 4.84 percent and the Dow Jones tumbling nearly 4 percent.

Asian markets were similarly impacted, with the Nikkei 225 falling 3 percent and the Hang Seng Index dropping 2 percent. The announcement has raised fears of a potential global trade war, further unsettling investors worldwide.

(KNN Bureau)

MENAFN04042025000155011030ID1109391596