After pharma, now Trump’s eye on this sector, will put heavy tariffs; Will India affect?

The Trump administration is now considering putting tariffs based on their chips on foreign electronic devices. It aims to motivate companies to increase production in the US. According to the plan, the Department of Commerce will impose tariffs on such products, which will be some percentage of the estimated value of their chip material. The department has not yet commented on this.

White House spokesman Kush Desai said, “America cannot depend on abroad on semiconductor products that are necessary for our national and economic security. The Trump administration is running several schemes like tariffs, tax exemption and easy to return significant production in America.”

If this scheme is applicable, it can increase the price of many products from toothbrush to laptops. Economist Michael Strain said that this can increase inflation further.

Trump administration has already imposed heavy tariffs

The Trump administration has already announced 100% tariffs on branded drugs and 25% on heavy trucks. In April, investigation on pharmaceuticals and semiconductor imports was initiated to reduce foreign dependence.

According to the report, 15% tariffs can be imposed on electronics coming from Japan and European Union and 25% on chip products from other countries. White House has expressed dissatisfaction over exemption, as Trump generally does not like discounts. However, the White House has expressed dissatisfaction at such a discount, as Trump does not generally like the discount. The implementation of this scheme may increase investment in American industry, but consumer goods prices are also likely to rise.

Also read-

‘Rocked airbase, burnt hangar and broken runways …’, Shahbaz Sharif beat the victory and India washed Pakistan in UN