WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday said he is planning to announce tariffs on imported semiconductor and pharmaceuticals, saying the rate for medicines could reach 200% but that he would give drugmakers about one year "to get their act together."

"We're going to give people about a year, a year and a half to come in and, after that, they're going to be tariffed," Trump told reporters, speaking at a meeting of his Cabinet at the White House.

"If they have to bring the pharmaceuticals into the country ... they're going to be tariffed at a very, very high rate, like 200%. We'll give them a certain period of time to get their act together," he said.

"We're going to be announcing pharmaceuticals, chips and various couple of other things - you know, big ones," Trump told reporters, while announcing a new tariff rate for copper. He did not offer specifics on when the other announcements would come.