Exclusive: Pharma industry lobbies Trump for phased tariffs, sources say [View all]

Source: Reuters

Exclusive: Pharma industry lobbies Trump for phased tariffs, sources say

By Maggie Fick and Michael Erman
April 1, 2025 6:20 AM EDT * Updated an hour ago

Summary
* Sources do not expect Trump to announce pharma-specific tariffs Wednesday
* Trump may announce plans to launch a study for pharma tariffs
* New U.S. pharma manufacturing could take years to build

LONDON/NEW YORK, April 1 (Reuters) - Drugmakers are lobbying U.S. President Donald Trump to phase in tariffs on imported pharmaceutical products in hopes of reducing the sting from the charges and to allow time to shift manufacturing, according to four sources familiar with the discussions.

Trump is expected to unveil a massive tariff plan on Wednesday. He said on Sunday that the reciprocal tariffs he is due to announce will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.

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Read more: https://www.reuters.com/business/healthcare-pharmaceuticals/pharma-industry-lobbies-trump-phased-tariffs-sources-say-2025-04-01/