Trump Pauses Pharma Tariffs As Pfizer Strikes $70B Manufacturing And Drug Pricing Deal

Benzinga

Trump paused plans for 100% tariffs on imported drugs after striking a $70 billion deal with Pfizer. The agreement expands U.S. manufacturing and launches TrumpRx.gov in exchange for a three-year tariff reprieve. The White House said other drugmakers must join or face duties, as analysts noted Trump’s hardball negotiating style.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump paused his threat to impose up to 100% tariffs on pharmaceutical

00:07imports as his administration negotiates with major drug makers to avoid duties on

00:12name brand products, according to Politico. On Tuesday, Trump unveiled a $70 billion deal

00:19with Pfizer, which includes expanded U.S. manufacturing and a new discount platform,

00:24TrumpRxGov, in exchange for a three-year tariff reprieve.

00:28The White House said it expects similar agreements soon, but warned tariffs will hit companies

00:33that refuse to participate. Analysts said the pharma threat resembled a familiar strategy

00:38of setting extreme demands to secure headline-grabbing deals.

00:42For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended