President Donald Trump reiterated his intention to impose tariffs on imports of pharmaceutical products, stating that these duties would be 'major' and 'at a level that you haven't really seen before.' This announcement signals a significant shift in trade policy that could impact the pharmaceutical industry.
Trump's stated goal is to encourage drugmakers to move manufacturing operations to the U.S., as production of most active ingredients has largely shifted overseas due to lower costs. However, industry experts warn that such tariffs could drive up U.S. drug prices for patients and disrupt complex global supply chains.
This potential policy change creates considerable uncertainty for pharmaceutical companies like Pfizer, which rely on global manufacturing networks. The tariffs could increase operational costs and necessitate strategic adjustments to supply chains and investment plans.
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