FX.co ★ Trump Threatens 250% Tariffs on Pharma Imports

In remarks made on Tuesday, US President Donald Trump issued a warning of potential tariffs on pharmaceutical imports, which could soar to as much as 250%. Initially, Trump suggested a modest tariff would be applied, escalating to 150% within 18 months and ultimately reaching 250% to encourage domestic manufacturing. In an interview with CNBC, as cited by Reuters, Trump stated, "In a year, a year and a half at most, it will increase to 150% and subsequently to 250%, because we want pharmaceuticals produced within our country." He did not mention the specific initial tariff rate for pharmaceuticals. Previously, in statements from last month, Trump indicated that such tariffs could climb to 200%. In February, he proposed that tariffs on both pharmaceuticals and semiconductor chips would commence at "25% or higher," with significant increases anticipated over the following year.