Trump starts process of putting new tariffs on semiconductors, pharmaceuticals

"President Trump has long been clear about the importance of reshoring manufacturing that is critical to our country’s national and economic security. Following the President’s directive, the Department of Commerce is moving forward with the public comment period of Section 232 investigations on pharmaceutical and semiconductor-related products," White House spokesperson Kush Desai said in a statement.

"The entire administration is committed to working on Trump Time to secure our economic future and restore American Greatness," he added.

The processes were kickstarted with the posting of federal notices alerting the public that the administration has begun investigations into the national security implications of importing pharmaceuticals and pharmaceutical ingredients, and semiconductors and semiconductor manufacturing equipment. The investigations were opened April 1, according to the notices.

As mentioned by Desai, the tariffs would be imposed under Section 232 of the Trade Expansion Act of 1962, which authorizes the president to impose duties on goods "if they are being imported in quantities or circumstances that threaten to impair national security."

Trump used the authorities in March to expand tariffs on steel and aluminum, and opened investigations into copper and timber that month.