Trump was addressing a fundraising gala for House Republicans on Tuesday, April 8, night (local time).
He then went on to mock rebel Republicans who suggest that the Congress should take over negotiations. “Let me tell you, you don’t negotiate like I negotiate,” Trump said.Trump’s comments come after the White House confirmed that the US tariffs on Chinese imports will surge to 104% from Wednesday, April 9, 2025.A White House official told CNBC that the tariff hike would proceed as planned after President Trump threatened a 50% increase unless Beijing dropped its 34% retaliatory duties on American goods by Tuesday. On the same day, Trump emphasised that China faced a firm noon deadline to reverse its tariffs.
During his address at the fundraising gala, Trump said he would be announcing major tariffs on the pharma sector soon.
“Tariffs on pharma will be there because we don’t make our own pharma drugs, they are made in another countries. Same packet in the US is price, sometime is price 10-times more. We are going to tariff pharma in such a way that cos will come rushing to us very soon. The advantage we have is, we are very big market. Very shortly, will announce major tariff on pharma and when these cos hear that, they will leave China and other countries because most of their products are sold here. And, they will be opening their plants here,” Trump said.
Earlier this month, Trump announced new tariffs on all imports to the United States from countries including India, China, Brazil, Japan and the European Union. He said more tariffs would follow. This has caused uncertainties among nations and led to volatility in global markets.
