From Washington Examiner: President Donald Trump hinted he could slap a 200% tariff on overseas pharmaceutical companies “very soon.”
Trump has long hinted at pharmaceutical tariffs to bring the sensitive industry back to the U.S., but has so far held off on the risky measure. He revived these efforts on Tuesday, hinting at new tariffs targeting the industry but giving a year-and-a-half window for implementation.
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“We’ll be announcing something very soon on pharmaceuticals. We’re gonna give people about a year, year and a half to come in, and after that, they’re gonna be tariffed if they have to bring the pharmaceuticals into the country at a very high rate, like 200%,” Trump said.
“We’ll give them a certain period of time to get their act together,” he added.
Commerce Secretary Howard Lutnick said details would come at the end of July.
WATCH: US President Donald Trump said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide https://t.co/nPuifr6aDF pic.twitter.com/VzgK3YcCUF
— Reuters Business (@ReutersBiz) July 9, 2025
Trump escalated his trade rhetoric and threatened more charges on copper and pharmaceuticals which sowed fresh chaos in the metals markets. Find out what’s moving the markets every morning before Wall Street opens on Reuters Market Rundown. More here: https://t.co/Giuz4mal7X pic.twitter.com/PW0nigt7AN
— Reuters Business (@ReutersBiz) July 9, 2025
Commerce Secretary @howardlutnick on trade negotiations: "What's happened is many of these countries have made us offers to finally open their markets… If you're going to give our people that opportunity, [@POTUS is] willing to cut that rate." pic.twitter.com/ZxlBS5V0O3
— Rapid Response 47 (@RapidResponse47) July 8, 2025
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