Explainer-Trump tariffs on chips and drugs would hit U.S. allies in Asia

FILE PHOTO: People walk across the streets in front of TSMC Fab 18 at Southern Taiwan Science Park in Tainan, Taiwan December 5, 2024. REUTERS/Ann Wang/File Photo

(Reuters) - U.S. President 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.

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.