Trump Excludes Pharmaceuticals From Sweeping New Tariffs, Signals Industry May Face Future Action

Pharmaceutical companies secured a reprieve from new U.S. tariffs after Trump announced reciprocal levies on over 60 countries, according to Bloomberg. While the pharmaceutical industry was not included in the latest round of tariffs, it remains at risk of future levies. A White House fact sheet confirmed that drugs and certain other products were excluded from the new measures. Trump said the U.S. will ramp up domestic production of key goods, including medicines. He warned pharmaceutical companies to return operations to the U.S. or face steep tariffs. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.