U.S. President Donald Trump said on Tuesday he intends to impose a "25% or higher" levies on semiconductors and pharmaceutical imports, and raise it substantially over the course of a year, a move likely to hit India's sprawling pharmaceutical industry.

Indian drugmakers earn a significant share of revenue from the US, the largest importer of Indian pharma products

President Donald Trump says he's planning to enact auto tariffs in the "neighborhood of 25%" to encourage companies to shift production from overseas.