President Trump has warned that pharmaceutical imports could face tariffs as high as 250%, part of a broader push to bring drug manufacturing back to the U.S.
President Donald Trump said Tuesday that tariffs on imported pharmaceuticals could eventually climb to 250%, the highest threat yet in his push to shift drug manufacturing to the U.S.
In an interview with CNBC, Trump explained he would start with a “small tariff,” then raise it to 150% and ultimately 250% within 18 months.
“We want pharmaceuticals made in our country,” he said.
The move follows a Section 232 national security investigation into pharmaceutical imports and mirrors other Trump-era trade actions.
Pharmaceutical companies warn the proposed tariffs could raise costs, disrupt supply chains, and discourage investment.
The president also invoked his “most favored nations” policy, aiming to cut drug prices by linking U.S. rates to lower prices abroad, though the policy remains unenforced.
Trump has given drugmakers until Sept. 29 to offer Medicaid patients the lowest global prices or face further action.
Companies like Eli Lilly have announced new U.S. investments amid growing White House pressure.