Trump declares his intention to impose a "major" tariff on pharmaceutical imports.

In an effort to entice pharmaceutical companies to relocate their operations back to the United States, US President Donald Trump announced on Wednesday that his administration would shortly impose a "major" tariff on pharmaceutical imports.

Trump stated during a National Republican Congressional Committee event that the action is meant to revitalize domestic pharmaceutical industry and lessen American reliance on foreign drug suppliers.

Trump informed the crowd, "We're going to be doing something very big on drug imports — a major tariff is coming." "We would prefer that these businesses manufacture their goods in America, not in China or another country."

He didn't go into specifics about the planned pharmaceutical tariff's scope or timetable. Although Trump made no mention of any particular nations from which the US imports pharmaceuticals, his administration's prior trade policy initiatives have placed a strong emphasis on China and India, two of the US's largest suppliers of generic medications and active pharmaceutical ingredients.