The president sent letters to Eli Lilly and other companies last week calling on them take steps to lower drug prices by Sept. 29. The move came after Trump in May signed an executive order reviving a controversial plan, the “most favored nation” policy, that aims to slash drug costs by tying the prices of some medicines in the U.S. to the significantly lower ones abroad.
Trump’s latest chip tariff declaration raises more questions than answers
After months of speculation, U.S. President Donald Trump has divulged more of his semiconductor tariff plans, but his latest threats might raise more questions than answers.
On Wednesday, Trump said he will impose a 100% tariff on imports of semiconductors and chips, but not for companies that are “building in the United States.”
As semiconductors represent an over $600 billion industry at the heart of the modern digital economy, any potential tariffs hold massive weight.
However, experts say the President has yet to provide key details on the policy, which will ultimately determine their full impact and targets.
Trump on manufacturing jobs: I'll punish any companies who send jobs overseas
US businesses operate based on the principle free enterprise, not a command economy, right? Within the bounds of certain regulatory restrictions management is supposed to be able to run their company as they see fit, right? Command economies like the one in communist China are largely directed by the government, right? But not here, right?
Apple, under pressure from Trump, says it's boosting U.S. investment
The tech giant says it now plans to invest $600 billion over the next four years, while Trump threatens 100% tariffs on imported semiconductors.
www.nbcnews.com
It used to be that the way to get companies to act in ways beneficial to the US was to craft legislation to incentivise desired behavior. Like when Dems tried legislative solutions to get companies to stop offshoring jobs.
Senate Republicans block bill to end tax breaks for outsourcing
U.S. companies can deduct from their corporate taxes for moving facilities overseas.
thehill.com
Not have a prez who threatens to punish companies who do not run their businesses in ways he likes.
Or countries for that matter. trump is now using tariffs as a cudgel against Canada for being in favor of a Palestinian state, Brazil for prosecuting his fellow insurrectionist, and India for buying Russian oil. Apparently, he doesn't just want to be the King of America, he wants to be King of the World.
