On the evening of August 5, Beijing time, US President Trump was interviewed by the US Consumer News and Business Channel (CNBC) and delivered a series of speeches on the candidate for Fed chairman, tariffs, immigration and other issues.

According to CCTV News, Trump said that he may soon announce the new Fed chairman. He has narrowed the range of potential candidates for future Fed chairs to four, excluding Treasury Secretary Scott Besent.

Trump said former Fed director Kevin Warsh is excellent, “two Kevin (the other refers to the White House National Economic Commission director Kevin Hassett) are great, and the others are good. In addition to the two Kevins, there are two other people who are considering.”

Trump revealed that he may use the vacant directorship position of Adriana Kugler to select future Fed chairmen.

Kugler unexpectedly announced his resignation last Friday, which will take effect this Friday. Trump told the media at the time that Kugler’s resignation was “surprising”.

Some analysts pointed out that Kugler’s resignation provided an opportunity for the White House to plan the next Fed chairman in advance, and also accelerated the competition for the position of the world’s most influential central bank governor.

UBS analysts believe that since the Federal Reserve Chairman must be a member of the board of directors at the same time, the White House’s security move is to appoint Powell’s successor as soon as possible to replace the vacant director position. Otherwise, if Powell chooses to remain as director after resigning as chairman, then the scope of the White House nomination for a new chairman will be limited to existing board members by then.

Regarding the tariff policy, Trump said that the United States will first impose “small tariffs” on imported drugs and raise the tax rate within about a year.

“One year, up to one year and a half, the tax rate will rise to 150%, and then to 250% because we want the medicine to be produced in our country,” he said. But he did not disclose what the initial tariff rate for the medicine is.

Trump said he will also announce tariffs on semiconductors and chips “about next week” but did not elaborate.

Trump said that given India’s continued purchase of Russian oil, he will “significantly” increase tariffs on Indian goods imported to the United States in the next 24 hours, with the current tax rate of 25%.