Drugmakers Lobby Trump for Gradual Pharmaceutical Tariff Implementation

Major drug manufacturers are lobbying President Trump for a phased implementation of tariffs on pharmaceutical imports to mitigate impacts and allow time for U.S. manufacturing adjustments. Sources indicate the Trump administration may consider incremental tariff increases despite a potential 25% tariff threat.

In the face of President Donald Trump's looming tariff announcement, drugmakers are engaging in strategic lobbying to mitigate the effects of potential new fees on imported pharmaceuticals. Sources suggest that the industry seeks a phased approach over a direct 25% tariff implementation, arguing the significant impact on global manufacturing operations.

Trump's comprehensive tariff plan, expected this Wednesday, is set to affect various sectors, including the pharmaceutical industry, traditionally exempt from such measures. Despite confidentiality, insiders predict no specific declarations on pharmaceutical tariffs will occur immediately, though the inevitability of these fees looms large for multinational drug companies.

As the industry's lobbying intensifies, there is hope within the pharmaceutical sector that the administration will consider the substantial time and financial investment required to shift manufacturing. With facilities needing up to a decade to develop, a gradual tariff ramp-up is seen as a crucial concession to maintain drug supply without exacerbating shortages.

(With inputs from agencies.)