Semiconductors brace for impact as Donald Trump readies fresh tariffs, warns BRICS, slams renewables, and vows to shield US industries and the dollar from global rivals.
The US President Donald Trump has announced a new wave of sweeping tariffs across multiple sectors, including semiconductors, copper, and pharmaceuticals, as part of his broader effort to shield American industries and reassert the United States’ economic dominance on the global stage.
At a White House briefing on Tuesday, Trump stated that tariffs on semiconductor imports would be introduced shortly. However, he withheld details on which nations or companies would be impacted or when the policy would take effect.
According to a report by The Economic Times, his remarks mark a significant escalation in trade protectionism, with a focus on high-tech industries critical to national security.
He also confirmed that a 50% tariff would be imposed on copper imports, aligning them with existing levies on steel and aluminium. As Trump said, the measure is intended to prevent US manufacturers from being undermined by cheaper foreign alternatives.
In a particularly aggressive move, the President revealed plans to impose a 200% tariff on imported pharmaceuticals. Businesses in the sector are expected to receive an 18-month grace period to adjust operations before the tariffs are enforced.
Trump disclosed that 14 foreign leaders had been sent formal notifications as part of a 90-day negotiation window nearing its close. These countries may face new tariffs ranging from 10% to 70%, depending on their trade practices and cooperation.
He specifically highlighted the BRICS nations — Brazil, Russia, India, China, and South Africa — as targets of a proposed 10% blanket tariff, citing their efforts to reduce their reliance on the US dollar in global transactions.
Trump emphasised that any challenge to the dollar’s supremacy would carry significant economic consequences.
Meanwhile, in domestic energy policy, Trump renewed his opposition to wind and solar, calling them unreliable and inefficient. He praised fossil fuels, particularly coal, as essential to powering US industry and preserving energy independence.
