President Donald Trump is keeping up the pace with seemingly a new tariff development every day. This time, he flagged that levies are coming on pharmaceuticals as soon as the end of the month and semiconductors could be next.

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.