US threatens 200% tariffs on pharma

"We will be announcing something very soon on pharmaceuticals. We're going to give people a year or a year and a half to come in and after that, they're going to be tariffed if they have to bring the pharmaceuticals into the country... They're going to be tariffed at a very, very high rate, like 200%," Trump told reporters during a cabinet meeting.

- Shashank Mattoo

This comes after the Trump administration launched a Section 232 investigation into pharmaceuticals in April. A Section 232 investigation attempts to determine whether imports of particular items pose a national security threat to the US.