Reuters reported that pharmaceutical companies are lobbying President Donald Trump to impose tariffs on imported pharmaceuticals in phases, hoping to soften the impact of the tariffs and buy time to shift production.
Trump is expected to announce a broad-based tariff plan on Wednesday. On Sunday, the president said the tariffs would apply to all countries, not just the 10-15 countries with the most significant trade imbalances.
He also confirmed that he would soon impose tariffs on the pharmaceutical industry, which, unlike other sectors, has been exempt from such measures in previous trade conflicts.
According to Reuters sources, Trump will not announce details of the pharmaceutical tariffs on Wednesday.
However, major multinational pharmaceutical companies are now convinced that U.S. tariffs on medical products are inevitable. Four people familiar with the matter said they hope to phase in the 25% tariff the president has warned about rather than impose an immediate 25% tax on day one.
