During an interview, President Trump said that the planned tariffs on pharmaceuticals imported into the U.S. could potentially rise to as high as 250%, marking the highest rate he has threatened so far.
During an appearance on CNBC’s “Squawk Box,” the President stated he will first enact a “small tariff” on pharmaceuticals. However, within a year to a year and a half at most, he plans to increase this rate to 150%, and later to 250%.
“We want pharmaceuticals made in our country,” Trump stated.
These comments follow repeated threats to crack down on the industry, including a June announcement to raise tariffs to 200% on pharmaceuticals.
In April, the Trump administration launched a “Section 232 investigation” into pharmaceutical products, a legal authority enabling the Commerce Secretary to examine how imports affect national security.
Last week, the White House said Trump sent letters to 17 pharmaceutical companies urging them to take measures to reduce U.S. drug prices by September 29. This includes offering their entire range of existing medicines at the lowest prices available in other developed countries to every Medicaid patient, along with other initiatives.
By CEO NA Editorial Staff
