President Donald Trump is threatening to impose tariffs of up to 200% on pharmaceuticals imported into the U.S., The Hill reported July 8.
“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,” he said during a recent Cabinet meeting.
He added that the tariffs would not take effect immediately, offering a grace period for up to 18 months for companies to adapt.
Commerce Secretary Howard Lutnick told CNBC that details about the tariffs would be announced at the end of July, following the completion of a national security probe into pharmaceutical and semiconductor imports launched by the White House in April.
Drugmakers and healthcare leaders have warned that steep tariffs could disrupt global supply chains and worsen existing drug shortages.
“The main patient care concern is that you see a shortage of particularly generic drugs and in a hospital setting,” Tom Kraus, American Society of Health-System Pharmacists vice president of government relations, told Becker’s in April. “Hospitals are particularly dependent on sterile, injectable, generic drugs, as those tend to be very low cost, very thin margin products, so they’re more susceptible to shortages.”
