Trump Threatens Pharma With Potential 250% Tariffs: 'We Want Pharmaceuticals Made In Our Country'

President Donald Trump said Tuesday he may impose tariffs on imported pharmaceuticals as high as 250%, the steepest rate he’s proposed to date, according to Benzinga. Speaking on CNBC's "Squawk Box," Trump said that he plans to start with a small tariff on pharmaceuticals, eventually raising it to 150% and then 250% within 12 to 18 months. He framed the proposal as part of a strategy to bring drug manufacturing back to the U.S. The announcement follows a Section 232 investigation into pharmaceutical imports launched in April and a recent 60-day ultimatum to 17 major drugmakers to cut U.S. prices or face consequences. The pharmaceutical industry warns such tariffs could raise costs, deter investment, and disrupt supply chains, jeopardizing patient access. The new plan comes amid the rollout of a 15% tariff on branded drugs imported from the EU.