US EditionTrump to Announce Pharmaceutical Tariffs Within Two Weeks - News Facts Network
- On May 5, 2025, at a White House event in Washington, U.S. President Donald Trump revealed his intention to announce new tariffs targeting imported pharmaceutical products within a two-week timeframe.
- Trump criticized foreign countries for unfair drug pricing and framed the tariffs as part of a strategy to restore domestic pharmaceutical manufacturing.
- The administration signed executive orders directing the FDA to streamline domestic drug plant approvals and increase inspections of foreign facilities to boost U.S. Production.
- The United States purchases prescription medications from abroad valued at more than $200 billion each year, and implementing a 25% tariff has been projected to increase consumer expenses by $50 billion annually, which represents roughly a 13% rise in drug prices according to analysis.
- Global pharmaceutical firms, including Korean exporters, plan capacity expansions in the U.S., while experts note minimal immediate impact on profitability but acknowledge growing trade tensions.
11 Articles
11 Articles
Trump's drug tariff plan likely to intensify pressure on Korea-US trade talks
United States President Donald Trump resumed his tariff-based pressure on Tuesday, saying that he plans to announce pharmaceutical tariffs “within the next two weeks.” The scope and potential impact of the drug tariffs on Korean industries remain unclear, but Trump’s mention of a specific timeframe is seen as an indication that Washington is accelerating tariff negotiations with its trade partners, including Korea. The push came amid ongoing wor…
Trump to Announce Pharmaceutical Tariffs Within Two Weeks - News Facts Network
Donald Trump announced plans to unveil new tariffs on pharmaceutical imports within the next two... The post Trump to Announce Pharmaceutical Tariffs Within Two Weeks appeared first on News Facts Network.
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