Pharma Industry Lobbies Trump for Phased Tariffs

1/4/2025 19:48

Drugmakers are lobbying U.S. President Donald Trump to phase in tariffs on imported pharmaceutical products in hopes of reducing the sting from the charges and to allow time to shift manufacturing, according to four sources familiar with the discussions.



Trump is expected to unveil a massive tariff plan on Wednesday. He said on Sunday that the reciprocal tariffs he is due to announce will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.



He has also said he will soon declare tariffs on the pharma industry, which have been exempt from past trade wars, following his measures against other sectors.



The four sources, who asked not to be named because discussions between the administration and industry have been confidential, said it is their understanding that Trump will not announce specifics on any pharma tariffs on Wednesday.