U.S. President Donald Trump said Tuesday that he plans to announce tariffs on imported semiconductors and pharmaceuticals.

Trump made the remarks to reporters during a Cabinet meeting at the White House, saying that he will announce tariffs on pharmaceuticals, chips and other items. 

He did not provide specifics on the tariff rates and the timeline for implementation on semiconductors. 

On pharmaceuticals, Trump indicated that companies would be given about one to one-and-a-half years to adjust before the tariffs take effect, while warning that imported pharmaceuticals could face tariffs as high as 200 percent.

Trump also said that the U.S. will impose a 50 percent tariff on copper imports. 

Commerce Secretary Howard Lutnick said in a CNBC interview that the new tariff on copper will likely be put into place by the end of this month or August 1.