Trump Tariff Tracker -- April 22

With the reciprocal tariffs in place, the Trump Administration is showing no signs of slowing down in its use of tariffs to push President Trump's trade agenda. On April 16, the Commerce Department announced that on April 1 the Secretary of Commerce initiated two more Section 232 Investigations into the national security impact of imports – one on semiconductors, semiconductor manufacturing equipment, and derivative products; and another on pharmaceuticals, pharmaceutical ingredients, and derivative products. The Commerce Department is accepting comments on the investigations from interested parties until May 7, 2025. While imports of the targeted semiconductor and pharmaceutical products will not be subject to reciprocal tariffs, they now face a more uncertain future in terms of even higher tariffs potentially being placed on these specific products.