Former President Donald Trump announced plans to impose tariffs of up to 250% on pharmaceuticals imported into the United States.
In an interview with CNBC on August 5, Trump said he will unveil new tariffs "within the next week or so" targeting imported pharmaceuticals and semiconductors. He plans to start with a modest tariff on drug imports, gradually increasing it over 12 to 18 months.
“We’ll begin with a small tariff on pharmaceuticals,” Trump said. “But in a year to a year and a half, it will rise to 150%, and eventually to 250%, because we want pharmaceuticals manufactured in our country.”
Trump criticized countries like China and Ireland for profiting from drug exports to the U.S., claiming other nations are “making a fortune” at America’s expense.
Global protests have erupted in response to Trump's broader tariff policies, with demonstrations in Canada, Brazil, South Korea, and India.
Trump has repeatedly floated the idea of pharmaceutical-specific tariffs in recent months, emphasizing the need to rebuild the U.S. drug manufacturing sector, which has been heavily reliant on supply chains stretching across Europe, China, and India since the 1990s.
In July, Trump proposed tariffs of up to 200% on imported drugs, suggesting a phased approach to give companies time to relocate production to the U.S. Similarly, in April, he pledged tariffs on foreign-made pharmaceuticals to incentivize domestic manufacturing.
On July 31, Trump sent letters to 17 pharmaceutical companies, urging them to reduce U.S. drug prices to “most favored nation” levels—matching prices paid by other countries. He specifically requested lower pricing for Medicaid, the government’s insurance program for low-income Americans, and for new drugs covered by Medicare, Medicaid, and private insurers.
Trump also called on drugmakers to cut prices for American consumers and businesses purchasing directly from them.
“Make no mistake: achieving global pricing parity through collaboration is the best path forward for companies, the government, and American patients,” Trump wrote. “But if you refuse to act, we will use every tool available to protect American families from abusive drug pricing.” Photo by Coolcaesar at the English Wikipedia.
