President Donald Trump said he will likely impose tariffs on pharmaceuticals as early as the end of this month and levies on semiconductors will also be coming soon, Jennifer Dlouhy and Justin Sink of Bloomberg reports. This suggests those import taxes could hit alongside broad “reciprocal” rates set to start on August 1. “Probably at the end of the month, and we’re going to start off with a low tariff and give the pharmaceutical companies a year or so to build, and then we’re going to make it a very high tariff,” Trump told reporters. Publicly traded companies in the semis space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN). Large pharmaceuticals include AstraZeneca (AZN), Bristol Myers (BMY), Eli Lilly (LLY), GSK (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- AMD price target raised to $185 from $120 at Wells Fargo
- AMD Stock Rally Is ‘Empty Calories,’ Says Citi’s Top Analyst
- AMD Stock Soars as Trump Lifts China AI Chip Ban
- ‘Watch AMD Stock Surge,’ Top BofA Analyst Boosts Price Target on Strong AI Momentum
- Sales Down, Layoffs Rise: Intel Stock (NASDAQ:INTC) Continues Slide