Trump Teases ‘Major’ Tariff On Pharmaceuticals | EUROtoday

President Donald Trump on Tuesday introduced his subsequent goal for tariffs: the pharmaceutical business.

In remarks earlier than the National Republican Congressional Committee, Trump mentioned his administration will “be announcing very shortly a major tariff on pharmaceuticals” made overseas.

While prescription drugs had been exempt from the president’s first spherical of tariffs, he has lengthy touted his plan of bringing again drug manufacturing to the U.S. and seems to consider this motion will assist advance this aim.

“When they hear that, they will leave China, they will leave other places because they have to sell, most of their product is sold here,” Trump mentioned. “And they’re going to be opening up their plants all over the place in our country.”

Trump famous that the benefit the U.S. has “over everybody is that we’re the big market.”

Currently, most medication are produced at the least partly outdoors the U.S. with China, India and Europe being main gamers within the provide chain.

While the president didn’t present any additional particulars on the particular levy, earlier this 12 months he mentioned he would impose a tariff of at the least 25% on prescription drugs.

Experts have warned that tariffs on prescription drugs might result in shortages of and better costs for some medication.

Even although his already imposed tariffs have brought about financial uncertainty and turmoil, Trump has defended his commerce coverage, claiming it can truly profit Republicans within the 2026 midterm elections.

“I really think we’re helped a lot by the tariffs situation that’s going on, which is a good situation, not a bad, it’s great, it’s going to be legendary, you watch. Legendary in a positive way, I have to say. It’s going to be legendary,” he mentioned.

Trump additionally bragged that nations the world over are lining as much as minimize offers with the United States to protect themselves from the results of his tariffs.

“I’m telling you, these countries are calling us up, kissing my ass,” he mentioned.

Trump’s tariffs concentrating on about 100 nations went into impact at midnight on Wednesday morning, together with a whopping 104% tariff on Chinese imports. In response, Beijing mentioned it can elevate tariffs on U.S. items to 84%.