President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, raising the specter of higher prices for electronics, autos, household appliances and other essential products dependent on the processors powering the digital age.

Tougher U.S. trade penalties on goods originating in one country being re-shipped from another are not expected to immediately follow new U.S. tariffs, three people in Southeast Asia with knowledge of the matter said, easing a major cause of concern.

The Trump administration has been talking to drugmakers about ways to raise prices of medicines in Europe and elsewhere in order to cut drug costs in the United States, according to a White House official and three pharmaceutical industry sources.

U.S. President Donald Trump's higher tariffs on imports from dozens of countries kicked in on Thursday, raising the average U.S. import duty to its highest in a century and leaving major trade partners such as Switzerland, Brazil and India hurriedly searching for a better deal.

Industry representatives warn of job losses and say decision could be ‘nail in the coffin’ for those exporting to the US.

President Donald Trump said on Tuesday that the United States would initially place a "small tariff" on pharmaceutical imports before hiking it to 150% within 18 months and eventually to 250% in an effort to boost domestic production.

The European Union still expects turbulence in trade relations with Washington, but it believes it has a good insurance policy thanks to a framework deal that covers most goods it exports to the U.S. by a maximum 15% tariff, an EU official said.

While there are no clear winners, Laos and Myanmar can be considered losers under a US policy that is shaking up global supply chains, as manufacturers in those countries are subject to a steep 40 percent US import duty.

South Korea and the United States have reached a tariff deal, but talks on a formal agreement have yet to start.

Thailand has accepted US conditions and pledged stricter measures to combat origin fraud, proposing to raise the Regional Value Content (RVC) threshold from the typical 40% to around 50% to ensure products genuinely originate in Thailand.