00:00President Donald Trump announces that the United States will initially impose a small tariff on pharmaceutical imports.
00:07He says the tariffs will rise to 150% within 18 months and eventually reach 250% to encourage domestic production.
00:17Trump said the goal was to ensure pharmaceuticals were manufactured within the US.
00:22He did not disclose the initial tariff rate on pharmaceutical imports but confirmed it would increase over time.
00:29Last month, he suggested the pharmaceutical tariffs could reach up to 200% while in February he said they would start at 25% or higher.
00:40He added that these tariffs would rise substantially within a year to boost domestic production.
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