Trump teases 200% tariff on all pharmaceutical imports

During a cabinet meeting on Tuesday, President Donald Trump floated the idea of imposing a 200% tariff on all pharmaceutical drugs imported into the U.S. in the near future.

“If they have to bring the pharmaceuticals into the country, the drugs and other things into the country, they’re going to be tariffed at a very, very high rate, like 200 percent,” Trump said.

Bloomberg was the first to report the news, adding that Trump said a decision to levy the import taxes would be made “very soon.” However, they would not go into effect immediately, implying he may be considering some kind of rollout.

“We’re going to give people about a year, year and a half, to come in, and after that, they’re going to be tariffed,” he added. “We’ll give them a certain period of time to get their act together.”

The statement on drugs came as Trump decreed a 50% tariff on copper, the details of which remain unclear. However, more is expected to be announced by August, according to statements from Commerce Secretary Howard Lutnick quoted in the Bloomberg report.

Trump also said he plans to target other metals and semiconductors with industry-specific tariffs. All of the above will potentially impact various aspects of healthcare, from IT systems to the manufacturing of medical devices, to the price of drugs.

Trump continues to say August is the timetable for his placing additional tariffs on specific nations, which will impact all goods entering the U.S. from any country subject to a duty.

This is a developing story.

For more, read the news from Bloomberg at the link below.