Trump plans tariffs on pharmaceuticals and semiconductors, potentially raising costs for consumers.

US President Donald Trump plans to impose tariffs on pharmaceuticals by the end of July, with rates potentially rising to 200% after a year to encourage domestic manufacturing. Tariffs on semiconductors, which could affect companies like Apple and Samsung, are expected to follow a similar timeline. These tariffs are part of broader "reciprocal" rates set to take effect on August 1st, aimed at securing national interests. The move has raised concerns about increased costs for consumers and market impacts, particularly for pharmaceutical exports from countries like Australia.