The pharmaceutical industry: discovering, developing, and delivering medicines
On April 2, 2026, President Trump signed executive orders imposing up to 100% tariffs on foreign-made patented pharmaceuticals that do not meet pricing or US manufacturing conditions. Companies with pricing deals and US production face zero tariffs; others face escalating tariffs over four years. The orders also revise tariffs on steel, aluminum, and copper products to be based on full US market value.