Pharma industry lobbies Trump for phased tariffs, Reuters reports
- Drugmakers are lobbying U.S. President Donald Trump for phased tariffs on imported pharmaceuticals to lessen financial impacts and allow time for manufacturing adjustments, according to sources familiar with the discussions.
- Trump is expected to unveil a tariff plan and has threatened a 25% tariff on imported medical products, but specifics are not expected to be announced.
- PhRMA stated that establishing a new U.S. Production facility could take 5 to 10 years and cost around $2 billion due to regulatory requirements, advocating for a gradual tariff increase.
- Industry representatives assert that new tariffs might lead to drug shortages and hinder patient access, as some medicines rely on foreign production.
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Pharma industry lobbies Trump for phased tariffs, sources say
Drugmakers are lobbying Trump to phase in tariffs on imported pharmaceutical products in hopes of reducing the sting from the charges and to allow time to shift manufacturing, according to four sources familiar with the discussions.
·United Kingdom
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Leaning Left3Leaning Right3Center2Last UpdatedBias Distribution38% Left, 38% Right
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38% Right
L 38%
C 25%
R 38%
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