President Donald Trump told CNBC's " Squawk Box " on Tuesday that planned tariffs on pharmaceuticals imported into the U.S. could eventually reach up to 250%, the highest rate he has threatened so far .

He said he will initially impose a "small tariff" on pharmaceuticals, but then in a year to a year and a half "maximum," he will raise that rate to 150% and then 250%.

The president has repeatedly threatened and then changed course on tariff proposals, so there's no guarantee he will eventually set pharmaceutical tariffs at the 250% rate. In early July, Trump had threatened 200% tariffs on pharmaceuticals.

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