Donald Trump Announces Plan For ‘Major’ Tariff On Pharma Imports: ‘Something Big Is Coming’
Donald Trump Pharma Tariffs: Donald Trump stated that the initiative aims to decrease American reliance on foreign drug supplies and boost domestic pharmaceutical manufacturing.
US President Donald Trump said that his administration would soon announce a “major" tariff on pharmaceutical imports. The levies will be aimed at encouraging drug manufacturers to shift operations back to the US, he said at an event hosted by the National Republican Congressional Committee.
Donald Trump said the move is intended to reduce American dependence on foreign drug supplies and revitalise domestic pharmaceutical production. He said, “We’re going to be doing something very big on drug imports — a major tariff is coming."
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🚨BREAKING: President Trump announces MASSIVE tariffs are coming VERY shortly on pharmaceuticals.THIS is what I voted for:
“We’re gonna tariff our pharmaceuticals … we’re going to be announcing very shortly a major tariff on pharmaceuticals."pic.twitter.com/7prfZCE4Ik
— Benny Johnson (@bennyjohnson) April 9, 2025
Without providing specific details on the scale and the timeline of the proposed pharmaceutical tariffs, the US President said, “We want these companies to make their products here, in America, not in China or elsewhere."
Donald Trump Defends Tariff Decision
Donald Trump defended his trade policies and said that the US is now “pouring in" billions from tariffs on foreign imports. Highlighting the explosive impact of tariffs, which are set to affect over 60 countries, the US President said that tariffs are generating up to $2 billion a day.
BREAKING: Donald Trump right now:And don’t let some of these politicians…let me tell you. These countries are calling me, kissing my ass, they are dying to make a [trade] deal…"please please sir let me make a deal, I’ll do anything, I’ll do anything sir." pic.twitter.com/p7c7kDNZTB
— unusual_whales (@unusual_whales) April 9, 2025
He also said that many countries have requested exemptions but emphasized that the tariffs are still in place.
He said, “We’ve had talks with many, many countries who want to make deals. Our problem is, we can’t see that many that fast. But we don’t have to because the tariffs are on, and money is pouring in at a level we’ve never seen."
Business leaders are now looking to relocate their operations to the US to avoid tariff penalties, the US President asserted.
How Stock Markets Have Reacted To Donald Trump’s Tariffs
US stocks plunged on Tuesday after a volatile day amid uncertainty over Donald Trump’s trade war. The S&P 500 soared 4.1% at the start, but quickly reversed course, dropping as much as 3% before trimming the loss to 1.6% while the Dow Jones Industrial Average fell by 320 points and the Nasdaq composite dropped 2.1%.
Global stock markets initially rallied but witnessed volatility as investors remain uncertain about how long Donald Trump will maintain his aggressive tariffs, analysts said.
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