President Donald Trump is threatening his steepest pharmaceutical tariffs yet as the administration continues to push countries into trade deals.
“On pharmaceuticals, we’ll be putting an initially small tariff on pharmaceuticals, but in one year, one and a half years maximum, it’s going to go to 150%, and then it’s going to go to 250%, because we want pharmaceuticals made in our country,” Trump said on CNBC Tuesday.
The president also said that official announcements about tariffs on semiconductors and pharmaceutical imports would be announced in the “next week or so” — and that the pharmaceutical tariffs would be separate from the 15% baseline tariffs.