President Donald Trump joins Squawk Box by phone to discuss the latest market-moving news, the country's economic goals, and more. He says a new semiconductor tariff plan may be coming as soon as next week.

Washington

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

Former President Donald Trump has stated that a new tariff plan targeting semiconductors will be announced soon, with the intention of promoting domestic manufacturing of chips. Trump emphasized that these tariffs will be in a separate category from existing tariffs and are designed to encourage companies to produce semiconductors in the United States, referencing significant investments already underway in Arizona.

In addition to semiconductors, Trump outlined plans to impose an initial tariff on pharmaceuticals, which would increase substantially over a period of up to one and a half years. He criticized previous government initiatives and stressed the importance of making pharmaceuticals domestically, indicating that the new tariffs are part of a broader strategy to address trade deficits and strengthen U.S. manufacturing.

Trump says new semiconductor tariff plan coming as soon as next week

The the deal that nobody knows it Becky. Nobody knows it because you know, they don't know We have been trying to figure out the details on that. Mr. President. So there are no details The details are 600 billion to invest in anything. I want anything. I can do anything I want with it and the purpose was they've been You know ripping us for so many years that it's time that they pay up and they have to pay up We couldn't afford to have the deficits. Look I did something with Switzerland the other day I spoke to their prime minister. The woman was nice, but she didn't want to listen and they paid essentially no tariffs And I said we have a 41 billion dollar deficit with you madam I didn't know her I said we have a 41 billion dollar deficit and you want to pay you want to pay 1% tariffs You wanted 1% I said you're not going to pay 1% we lose because I view deficit as loss You know, you have some people by the way, I think pharmaceuticals are a big issue with Switzerland I'll go into pharmaceuticals they make a fortune with pharmaceuticals and they make our Pharmaceuticals in China and Ireland and everything else and within the next week or so We're going to be announcing tariffs on for specifically. This is a you know This is a separate class than the 15% tariffs on sort of everything. These are excluded classes. I call them I like to call them excluded like steel Aluminum etc Announcing on Semiconductors and chips, which is a separate category because we want them made in the United States And by the way, they're being made in the United States you know, we have the biggest in the world as you know from Taiwan is coming over and spending 300 billion dollars in Arizona building the biggest plant in the world for chips and Semiconductors, but on pharmaceuticals, we'll be putting a initially small tariff on pharmaceuticals But in one year one and a half years maximum, it's going to go to 150% and then it's going to go to 250% because we want pharmaceuticals made in our country and that's not the Chips Act like Biden did because they didn't know what he was Doing where they gave billions of dollars to companies that had more money than they knew what to do

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Hiroshima

Japan’s Hiroshima marks 80 years since U.S. atomic bombing

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Jerusalem

Middle East Conflict

Netanyahu reportedly wants complete Gaza takeover

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Kyiv

Ukraine Invasion

Zelenskyy holds 'productive talks' with Trump about war

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House committee subpoenas Clintons, others over Epstein files

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Jackson

Suspect arrested in murders of 4 Tennessee family members

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State of Rio de Janeiro

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Beirut

Lebanon faces renewed pressure to disarm Hezbollah

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Ottawa

Canadian military makes aid drop into Gaza

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Geneva

Strong UN treaty on plastic pollution in doubt as talks resume

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Moscow

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Tel Aviv-Yafo

Videos of hostages increase pressure on Netanyahu for ceasefire

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Rome

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Sana'a

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Santa Barbara

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Kamchatka Peninsula

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As Suwayda

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Brussels

Rise of AI

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Trump says new semiconductor tariff plan coming as soon as next week

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