U.S. President Donald Trump says he is likely to impose tariffs on imported pharmaceuticals as soon as the end of the month.

Trump conveyed the information to reporters on Tuesday as he returned to Washington after attending an event in Pittsburgh. 

Asked about plans for tariffs on pharmaceuticals, Trump said they will probably come at the end of the month.

Trump added that the U.S. would start off with a low tariff, give the pharmaceutical companies about a year to adjust, and then raise the tariff sharply.   

He said the timeline for implementing tariffs on semiconductors would be similar and the process would be less complicated.