US EditionTrump threatens to impose up to 200% tariff on pharmaceuticals ‘very soon’
UNITED STATES, JUL 8 – Tariffs of up to 200% aim to reduce US reliance on foreign drug production with a one-year grace period for manufacturers to relocate, officials said.
- U.S. President Donald Trump revived his threat on Tuesday to impose tariffs on pharmaceutical imports reaching 200%.
- This follows an April investigation into pharmaceutical imports aimed at addressing national security concerns over foreign drug dependence.
- Trump said companies will have about a year to a year and a half to relocate manufacturing to the U.S. before tariffs apply at 200%.
- Trump stated, “we're the big market,” and expects overseas companies to return as tariffs encourage domestic production.
- The tariffs could reshape the pharmaceutical supply chain but drew criticism from PhRMA, which called them counterproductive and warned of higher drug costs.
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Will Trump’s pharma tariffs cripple Ireland’s economy?
Japan will take it in its stride, even if its automakers might be hit. China will absorb the extra costs, and the UK has already managed to secure its own trade deal. President Trump’s tariffs have largely been shrugged off by the US’s major trading partners. We may, however, soon see one exception. His imposition of huge levies on pharmaceutical manufacturing may kill the Irish economy. Amid the latest round of tariffs, there is one of genuine …
Donald Trump threatens to tax 200% of drugs if their production is not relocated within a year. ...
US News Highlights: Tariffs, Trade Wars, and Federal Overhauls.
Recent domestic news features a surge in used car prices driven by tariffs, tariff revenue predictions by the US Treasury, and potential tariff impositions on pharmaceuticals. Meanwhile, government layoffs have been cleared by the Supreme Court, and White House adviser Kevin Hassett emerges as a potential Federal Reserve chair.
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