President Donald Trump in Washington on July 15, 2025. Anna Moneymaker/Getty Images
The United States will institute tariffs on pharmaceutical imports “probably at the end of the month,” President Donald Trump told reporters at Joint Base Andrews on July 15.
“We’re going to start off with a low tariff and give the pharmaceutical companies a year or so to build. And then, we’re going to make it a very high tariff,” Trump said. “Look, there’s two ways you do it. You make money and/or you have them move here so they don’t have to pay the tariff. Those are the two ways. The pharmaceutical companies are moving back to America where they should be.”
