The United States will impose 35% tariffs on the European Union if the EU fails to honor its commitment to invest in American goods, Donald Trump said in an interview with CNBC.

"The EU has assured us $600 billion to do whatever we want with it," the president said. If it doesn't arrive, "I will raise tariffs to 35%" on the European Union, he threatened. "That's the only reason I lowered them to 15%," the president emphasized.

"We're a rich country again," Trump said. Washington, he added, is ready to announce new tariffs on semiconductors and chips next week. "We'll make an announcement on semiconductors and chips, which are a separate category, because we want them to be made in the United States," he said. The announcement will come "approximately within the next week," Trump said.

Trump then declared that the planned tariffs on pharmaceutical products imported into the United States could reach 250%, the highest rate he has threatened to date . Initially, he explained, he will impose a "small tariff" on pharmaceutical products, but then, within a year or a year and a half, "at most," he will increase the rate to 150% and then to 250%.

(Unioneonline)

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