US considers semiconductor and pharma tariffs

The US now has semiconductors and pharmaceuticals firmly in its tariff sights.

Writing on his Truth Social account, President Donald Trump said nobody is “getting off the hook for the unfair trade balances.” He said the administration was taking a look at semiconductors and the whole electronics supply chain for its next round of tariff investigations.

Speaking on TV network ABC News, Commerce Secretary Howard Lutnick, said, “Virtually all semiconductors are made in Taiwan, and finished in China, and it’s important we reshore them … [T]hey will be outside the reciprocal tariffs.” Negotiations are likely to factor in other factors; Taiwan is to avoid tariffs, for example.

The US will have to tread carefully, however, given key Asian suppliers are already busy investing in US semiconductor fabs.