Trump says pharma, chips tariffs incoming as trade war widens

His sweeping plans have sparked a flurry of activity as governments seek to avert the worst of his threats -- with Switzerland's leaders heading to Washington on Tuesday in a last-minute push to avoid punitive duties. This means that although the 39-percent tariff Swiss leaders seek to avoid come Thursday excludes pharmaceuticals, Trump's plans for a steep levy on such imports will likely remain a point of contention in any talks. In the same CNBC interview, Trump said he expects to raise the U.S. tariff on Indian imports "very substantially over the next 24 hours" due to the country's purchases of Russian oil.