The Trump administration took formal steps Monday to expand tariffs, according to the Associated Press. The expanded tariffs are on imports tied to national security, targeting semiconductors, chipmaking equipment, and pharmaceuticals. The Commerce Department is investigating how chip-related imports impact national security under a law that allows the president to impose tariffs for that reason. The investigation into pharmaceutical imports covers drug ingredients and broader concerns about reliance on foreign supply chains. Trump confirmed plans for tariffs on pharmaceuticals, saying they aim to boost domestic drug production.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Drug administration took formal steps wanting to expand tariffs, according to the Associated Press.
00:07The expanded tariffs are on imports tied to national security, targeting semiconductors,
00:12chip-making equipment, and pharmaceuticals. The Commerce Department is investigating how
00:16chip-related imports impact national security under a law that allows the president to impose
00:22tariffs for that reason. The investigation into pharmaceutical imports covers drug ingredients
00:26and broader concerns about reliance on foreign supply chains. President Trump confirmed plans
00:32for tariffs on pharmaceuticals, saying they aim to boost domestic drug production.
00:36For all things money, visit Benzinga.com slash GSTV.