Insignia Consultants | US steps up probes into pharmaceutical, chip imports, setting stage for tariffs
US steps up probes into pharmaceutical, chip imports, setting stage for tariffs
April 14 (Reuters) - The Trump administration is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed.
The filings announce 21-day public comment periods and mark President Donald Trump's latest use of Section 232 of the Trade Expansion Act of 1962 as justification for so-called sectoral tariffs aimed at boosting domestic production of goods he says are critical to national security.
Using the 232 provision, the Trump administration has started investigations into imports of copper and lumber, and probes completed during Trump's first term formed the basis for 25% tariffs rolled out since his return to the White House in January on steel and aluminum and on the auto industry.
The filings, which indicate the administration began the investigations on April 1, follow exclusions unveiled over the weekend for smartphones, computers and other electronics imported largely from China from Trump's steep 125% reciprocal duties. Trump officials had said those products would soon be subject to Section 232 tariffs.
