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President Trump expressed a clear preference for pharmaceuticals to be produced domestically. He emphasized the desire to see American-made medicines, stating that tariffs on foreign pharmaceuticals could reach as high as 250%. This aggressive stance underscores an overarching goal to bolster the U.S. pharmaceutical industry and reduce reliance on imports.
Gradual Increase in Tariffs
The administration's plan, as announced, involves starting with a relatively small tariff initially. Over the course of one to one and a half years, these tariffs would increase substantially—first to 150%, and eventually to 250%. The goal is to create a significant incentive for foreign manufacturers to move production stateside and to support American industry.