Trump has promised to impose hefty import taxes on pharmaceuticals, a category of products he's largely spared in his trade war. For decades, in fact, imported medicine has mostly been allowed to enter the United States duty free. That's starting to change. U.S. and European leaders recently detailed a trade deal that includes a 15% tariff rate on some European goods brought into the United States, including pharmaceuticals. Trump is threatening duties of 200% more on drugs made elsewhere.
President Trump outlined details of the framework trade deal with the EU, mentioning a small tariff on pharmaceuticals that will increase significantly over the next one to one and a half years.