U.S. Commerce Secretary Howard Lutnick says President Donald Trump is likely to announce a new policy targeting drug manufacturing within the next two weeks.

Lutnick made the remarks on Tuesday in an interview with CNBC while discussing the recent trade deal between the U.S. and the European Union(EU), which included a 15 percent reciprocal tariff on imports from the trading bloc. 

The commerce secretary reportedly said it was important for the EU to include pharmaceuticals among the items subject to the 15 percent tariff because Trump is expected to announce a pharmaceutical policy within two weeks that will impose a higher duty. 

Earlier this month Trump said he was likely to impose tariffs on imported pharmaceuticals at the end of the month, but a delay is now expected. 

At the time, Trump said the U.S. would start off with a low tariff and raise it after giving the pharmaceutical companies about a year to adjust.