“Pharma Industry Appeals to Trump for Gradual Tariff Implementation, Insider Reports”
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Drug companies are urging President Donald Trump to gradually introduce tariffs on imported pharmaceutical products to ease the financial impact and allow time to relocate manufacturing facilities. Trump is planning to reveal a substantial tariff plan, stating that the upcoming reciprocal tariffs will involve all countries rather than just a select few with major trade imbalances. The pharmaceutical industry, which has been exempt from previous trade disputes, is anticipated to face tariffs soon. Major drug manufacturers foresee the inevitability of U.S. tariffs on medical products and are seeking a phased approach to reach the 25% tariff level instead of an immediate 25% imposition. There are discussions on the potential implementation of industry-specific tariffs and the need for an extended period to transition production to the U.S., as it requires substantial time and resources to establish new manufacturing facilities due to regulatory demands. Industry representatives have suggested a gradual increase in tariff rates over a span of years during meetings with the U.S. administration. While details are subject to change, there is hope within the industry that initial tariff rates will be below the previously threatened 25%. The Trump administration appears to acknowledge that shifting drug manufacturing operations to the U.S. is a long-term process, fostering optimism for a phased approach to reaching the 25% tariff level.

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