President Donald Trump has announced that the United States will impose tariffs on pharmaceutical imports, starting with a ‘small tariff’ before escalating to 150 per cent within 18 months. The tariff is ultimately planned to reach 250 per cent. The aim of this measure is to incentivise pharmaceutical companies to shift their production to the US.
In an interview with CNBC, Trump stated, ‘In one year, one and a half years maximum, it’s going to go to 150 per cent and then it’s going to go to 250 per cent because we want pharmaceuticals made in our country.’ He did not specify the initial tariff rate that would be applied to pharmaceutical imports.
This announcement follows earlier remarks this month where Trump suggested that pharmaceutical tariffs could reach as high as 200 per cent. The move signals a continued focus on prioritising domestic manufacturing and reducing reliance on foreign pharmaceutical production. No further details regarding the specific pharmaceuticals affected or the implementation timeline were provided at the time of the announcement.
