US President Donald Trump says he will soon announce “major” tariffs on imported pharmaceuticals, a move that could end decades of low-cost global trade in medicines.For years, most countries, including the US, have imposed few or no tariffs on finished drugs, thanks in part to a 1995 World Trade Organisation (WTO) agreement aimed at keeping medicines affordable.This shift comes after Trump introduced a blanket 10% tariff on other imports last week, as part of a broader effort to bring manufacturing back to the US.His new “reciprocal” tariffs – including a duty of 104% on goods arriving from China – came into force on Wednesday, intensifying a global trade war and further shaking markets.Pharmaceutical buyers, so far spared from such measures, are now preparing for what may come next. The US has typically imported vast quantities of finished medicines from India, Europe and China without buyers paying tariffs – although active pharmaceutical ingredients (APIs), used to make drugs, do face some duties.Speaking at a fundraiser dinner for his Republican Party on Tuesday, Trump said: “We’re going to be announcing very shortly a major tariff on pharmaceuticals. And when they hear that, they will leave China.” He also told reporters on board his Air Force One plane last week that “pharma” tariffs would arrive “at a level that you haven’t really seen before”, saying these would be announced “in the near future”.In 2024, the US imported $213bn (£168bn) worth of medicines – more than two and a half times the total a decade earlier. While short on detail, his comments have rattled buyers, especially those relying on Indian imports. India supplies nearly half o …
