Donald Trump announced plans to unveil new tariffs on pharmaceutical imports within the next two weeks, expanding his administration’s broader trade agenda. The statement came during a health-focused executive order signing at the White House Monday evening.
The U.S. currently imports around $200 billion in pharmaceutical goods annually. According to an April Ernst & Young analysis, a proposed 25% tariff could increase drug prices for Americans by over $50 billion a year—an estimated 13% hike.
Trump’s agenda includes sector-specific tariffs targeting goods critical to national security, a 10% universal tariff on all trading partners, and paused “reciprocal tariffs” designed to pressure countries into bilateral trade deals.
During Monday’s ceremony, Trump also signed executive orders banning gain-of-function research in U.S. labs and directing the FDA to incentivize domestic drug production by streamlining regulation. He teased further healthcare actions to come.
Critics warn the tariffs could significantly raise consumer costs, while supporters argue they are necessary to restore domestic pharmaceutical manufacturing and reduce dependency on foreign suppliers.
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