US President Donald Trump plans to impose up to 250% tariffs on pharmaceuticals within the next year and a half, he announced in an interview with CNBC. The move aims to encourage domestic manufacturing of medicines.
Trump’s proposed tariffs are higher than previously threatened rates of up to 200%. He stated that initial tariffs will be small but will increase to 150% over time.
Several major drugmakers, including Eli Lilly and Johnson & Johnson, have committed to increasing US manufacturing capacity. However, experts say it can take years to build new plants and shift product lines.
The US trade deal with the European Union could also impact the pharmaceutical industry, potentially leading to higher costs and limited access to medicines. The US is set to impose a 15% tariff on branded drugs imported from Europe.
Source: https://www.axios.com/2025/08/06/trump-tariff-plan-drugs-pharma