The Trump administration in April said it was investigating whether extensive reliance on foreign imports of pharmaceuticals and semiconductors posed a national security threat.
The probe, being conducted under Section 232 of the Trade Expansion Act of 1962, could lay the groundwork for new tariffs on imports in both sectors.
The Trump administration has begun separate investigations under the same law into imports of copper and lumber.
Earlier probes completed during Trump’s first term formed the basis for 25 per cent tariffs rolled out since his return to the White House in January on steel and aluminium and on the auto industry.
Trump has upended global trade with a series of aggressive levies against trading partners, including a 10 per cent tariff that took effect in April, with that rate set to increase sharply for most larger trading partners from Aug 1.
The US relies heavily on chips imported from Taiwan, something Democratic former President Joe Biden sought to reverse during his term by granting billions of dollars in Chips Act awards to lure chipmakers to expand production in the United States.
Source: CNA
