Watch: Trump warns of 'major' tariff on pharmaceuticals

President Donald Trump on Tuesday accused China of manipulating its currency to offset the impact of US tariffs.

During an event at the National Republican Congressional Committee Trump said China is facing a 104% tariff and he announced he would introduce tariffs on pharmaceuticals.

"We have to do, we're going to put we're going to tariff our pharmaceuticals. And once we do that, they're going to come rushing back into our country because we are the big market, the advantage we have over everybody is that we're the big market. So we're going to be announcing very shortly a major tariff on pharmaceuticals."