President Trump Announces US Will Soon Impose Tariffs on Pharmaceutical Imports

President Donald Trump has announced that the United States will soon impose a “major” tariff on pharmaceutical imports from foreign countries.

Speaking at a National Republican Congressional Committee event on Tuesday, Trump said the move is aimed at encouraging drug manufacturers to relocate their operations to the US, boosting domestic production in the sector.

“We’re going to be announcing very shortly a major tariff on pharmaceuticals . . . when they hear that they will leave China, they will leave other places because . . . most of their product is sold here,” Trump said during a National Republican Congressional Committee dinner.

Trump had previously exempted pharmaceuticals from the round of reciprocal tariffs he announced last week, but he has been signaling for months that the drug industry would eventually face scrutiny.

In a February exchange with reporters, Trump suggested that tariffs on imported pharmaceuticals would likely start at 25%, with the possibility of increasing further.

Analysts and academics have warned that such tariffs could drive up consumer prices.

On Tuesday, Trump also claimed that the tariffs would benefit Republicans in the 2026 midterm elections.

The announcement of these tariffs has caused turmoil in the stock market and raised concerns about a potential economic downturn, which could be detrimental to the Republican Party, currently in power.

“We’re going to win the midterm elections and we’re going to have a tremendous, thundering landslide, I really believe that . . . and I really think we’re helped a lot by the tariff situation that’s going on,” Trump said.