Trump's Tariff Tactics: Pharma Sector Faces New Challenge

President Trump plans to impose tariffs on pharmaceuticals, targeting imports from countries like India, despite potential impacts on drug costs. Indian companies, key suppliers of generics, may face difficulties. Trump's comments highlight his aggressive tariff strategy and dismissal of Congressional intervention.

US President Donald Trump remains steadfast in his push for reciprocal tariffs, announcing plans to target the pharmaceutical sector, which previously evaded such measures. Speaking at a Republican event, Trump criticized the reliance on foreign-produced drugs and pledged to impose tariffs to entice companies back to the US.

Indian generic drug manufacturers, crucial for the US healthcare system by providing affordable options, may face significant challenges if Trump's policy takes effect. Experts warn that tariffs on Indian pharmaceuticals could lead to increased drug prices and higher healthcare inflation in the US, as well as financial strain on Indian firms.

Trump boasts that foreign countries are eager to negotiate under his terms, rejecting calls from some Republicans for Congress to take the lead. He insists his hardline negotiation tactics are necessary, citing previous successes like imposing 104% tariffs on China.

(With inputs from agencies.)