At an NRCC event, President Trump signaled plans to impose major tariffs on pharmaceutical imports—raising alarms across the industry. Previously spared after intense lobbying, pharma now faces a shakeup. With 80% of APIs and generics made overseas, experts warn of rising drug costs and potential shortages. China and India, key exporters to the U.S., could be sidelined—disrupting a $70–90B supply chain. Pharma stocks plunged 6% post-speech. While Trump pushes for U.S. self-reliance, rebuilding domestic capacity could take years, leaving American consumers to bear the immediate cost.
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NewsTranscript
00:00So we're going to be announcing very shortly a major tariff on pharmaceuticals and when you
00:06and when they hear that they will leave China they will leave other places. Drug companies
00:13listen to them but we're going to do something that we have to do we're going to put we're going
00:18to tariff our pharmaceuticals and once we do that they're going to come rushing back into our country
00:24because we're the big market. The advantage we have over everybody is that we're the big market
00:28so we're going to be announcing very shortly a major tariff on pharmaceuticals and when you
00:36and when they hear that they will leave China they will leave other places because they have to sell
00:42most of their product is sold here and they're going to be opening up their plants all over the
00:46place in our country we're going to be announcing that so that's breaking news ladies and gentlemen
00:51we have breaking news that's what's going to happen what other presidents allow china to get away with
00:57is absolutely criminal but i'm not like the other presidents and it's not going to happen under
01:03president trump
01:10so
01:12so
01:16so
01:22so