WASHINGTON, April 15 (Bernama-dpa) -- US President Donald Trump has announced that tariffs on pharmaceutical products could be expected in the "not too distant future", German Press Agency (dpa) reported.
Trump stated at the White House during a meeting with Salvadoran President Nayib Bukele that the United States no longer produces its own medicines, with pharmaceutical companies based in Ireland, China and other locations. He suggested that imposing import tariffs would shift production back to the US.
Trump remarked that "the higher the tariff, the faster they come," referring to pharmaceutical companies.
He compared the planned tariffs to the punitive measures of 25 per cent on the import of cars, steel and aluminium, though it was unclear if he was referring to the level of these measures.
"We're doing it because we want to make our own drugs," Trump said.
Pharmaceutical products have so far been exempt from the extensive new US tariffs. However, Trump had already expressed his intention to use tariffs to encourage drug manufacturers to establish production facilities in the US.
US Commerce Secretary Howard Lutnick indicated over the weekend that products currently exempt from special tariffs, such as smartphones, laptops and other important electronic goods, may soon face additional tariffs. He also mentioned pharmaceutical products.
-- BERNAMA-dpa
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