President Trump announced that he will impose tariffs on pharmaceuticals and semiconductors as early as August 1.

He stated that the tariff on imported drugs will start at a low rate, giving pharmaceutical companies about a year to adapt, after which the tariff will increase significantly.

He has a similar plan for semiconductors (essential components for all electronic devices) and believes that imposing tariffs on this industry will be "less complicated," though he has not provided further details.

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