Recently, President Trump announced plans to impose tariffs on pharmaceuticals with the aim of encouraging drug manufacturers to relocate production back to the U.S. While foreign-made medicines were initially exempted, Trump suggested tariffs could exceed 25 percent. The majority of medications consumed in the U.S. are produced largely overseas, particularly in countries like China and India. Experts indicate that despite the proposed tariffs, the financial incentives for drugmakers to produce their products abroad remain strong, posing significant challenges to his plans.
Mr. Trump said in remarks at a Rose Garden event on Wednesday: "The pharmaceutical companies are going to come roaring back, they're all coming back to our country because if they don't, they got a big tax to pay."
Experts argue that, despite tariffs, drug manufacturers are unlikely to shift their production back to the U.S. due to powerful financial incentives to produce overseas.
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