President Trump on Tuesday threatened to impose 200 percent tariffs on imported drug products in the US. “Very soon”.
Trump said during a cabinet meeting, “If he has to bring pharmaceuticals, drugs and other things to the country in the country, he is going to be tariffs at a very high rate like 200 percent,” Trump said during a cabinet meeting.
Trump said that no tariff would be effective immediately.
Trump said, “We are going to give people about a year, one and a half years, to come, and after that, they are going to be tariffs.” “We will give them a certain time to get our work together.”
Speaking on CNBC after the meeting, Commerce Secretary Howard Lutnik said that more details will be announced at the end of the month, once the investigation of the issue has been completed.
“With pharmaceuticals and semiconductors, those studies are being completed at the end of the month, and so the President will then determine his policies, and I am going to wait for them to decide how he is going to do,” Lutnik said.
White House in April Started an inquiry In the effects of imports of pharmaceuticals on national security.
The White House has pledged the first standing tariff and later closed back, so Trump’s words are away from the end of the case on Tuesday.
Pharmaceutical companies have said that if Trump chases through its dangers, then the industry is working for chaos. Tariffs will disrupt international supply chains, forcing companies to decide whether patients have to pass increased costs and increase the lack of existing drugs.
The administration wants more pharmaceutical companies to pursue their manufacturing, but experts said that such a process will take years, while the pain from tariffs can be very immediate.
