Trump tariffs on chips and drugs would hit U.S. allies in Asia
Donald Trump plans to impose tariffs on imported computer chips, pharmaceuticals and steel, he said on Monday, to push companies to manufacture more in the United States.
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The comments mark the latest in a number of trade-related threats unleashed by Trump in recent days. He has already promised to slap 25% tariffs on imports from Canada and Mexico by Feb. 1 if the two countries don't meet demands on border security and other issues.
By focusing on chips and pharmaceuticals, Trump could squeeze U.S. allies in Asia, including Taiwan, South Korea and Japan.
What's being targeted for chips?
Trump said he plans to impose tariffs on imported computer chips without providing details.
Asia is the world's biggest chip manufacturing hub, producing more than 80% of semiconductors sold globally, according to the Asian Development Bank.
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