On Tuesday, President Donald Trump threatened to impose tariffs on pharmaceuticals imported into the U.S. that could eventually reach up to 250 percent.
This would be the highest rate the president has threatened so far.
Trump made the remarks on CNBC’s "Squawk Box.” He stated that he would start by imposing a “small tariff” on pharmaceuticals but will raise it to 150 percent and 250 percent by a year-and-a-half “maximum.”
“We want pharmaceuticals made in our country,” Trump told CNBC.
.@POTUS: "Within the next week or so, we're going to be announcing tariffs on pharmaceuticals... We want pharmaceuticals made in our country." pic.twitter.com/KNiwsPbPH2
— Rapid Response 47 (@RapidResponse47) August 5, 2025
Earlier in the conversation, Trump stated that he believes that pharmaceuticals, among other things, are separate from the sweeping tariffs he imposes on goods coming from other countries.
The pharmaceuticals tariffs are to be expected in the next week or so, the president said.
According to Reuters, the United States has been conducting a national security review of the pharmaceutical sector. Due to this, the industry has reportedly been preparing for sector-specific tariffs.
One drugmaker, AstraZeneca, recently committed $50 billion to expand its American operations by 2030.
“This investment is expected to create tens of thousands of new, highly skilled direct and indirect jobs across the country powering growth and delivering next generation medicines for patients in America and worldwide,” a statement from the company said. “The drug substance facility, planned to be in the Commonwealth of Virginia, would be AstraZeneca’s largest single manufacturing investment in the world.”