United States President Donald Trump has announced plans to impose tariffs on pharmaceuticals, stating the measure would likely begin at the end of the month. Speaking to reporters, President Trump outlined a strategy to implement tariffs, initially at a low rate, before escalating them over approximately one year. The aim is to incentivise pharmaceutical companies to shift their operations back to the United States.
Trump explained that the tariff structure offers two potential outcomes: increased revenue for the U.S. or the relocation of pharmaceutical manufacturing to American soil. He asserted that pharmaceutical companies are already in the process of moving back to the United States, which he supports.
The proposed tariffs form part of the administration’s broader strategy to bolster domestic manufacturing and reduce reliance on foreign supply chains. Further details regarding the specific tariff rates and the scope of pharmaceutical products affected are expected to be released in the coming weeks as the implementation date approaches.
The announcement comes amid ongoing debates about pharmaceutical pricing and access to medications in the United States. The move could significantly impact both domestic and international pharmaceutical markets.
