India, July 10 -- US President Donald Trump threatened to raise tariffs on pharmaceutical imports to 200% on Tuesday, months after his administration launched a trade investigation into the sector in which Indian manufacturers have significant stakes.

"We will be announcing something very soon on pharmaceuticals. We're going to give people a year or a year and a half to come in and after that, they're going to be tariffed if they have to bring the pharmaceuticals into the country.They're going to be tariffed at a very, very high rate, like 200%," said Trump to reporters during a cabinet meeting.

This comes after the Trump administration launched a Section 232 investigation into pharmaceuticals in April this year. A Section 232 investiga...