Americans medicine cabinets are filled with prescription drugs that are often made in or contain ingredients from China or India.
Pharmaceutical experts warn patients will likely eventually see higher prices and possibly some shortages if President Donald Trump follows through on his vow to assess tariffs on prescription drug imports.
While pharmaceutical companies were exempted from the across-the-board 10% tariff on most imported goods announced earlier this month, the president has repeatedly said he plans trade actions for drug imports.
April 8, Trump said his administration would soon impose a "major tariff on pharmaceuticals" imported to the U.S. And he predicted drug companies would move factories to the United States to avoid paying duties on imports.
While speaking to reporters from the Oval Office on April 9, Trump said, "We don't make our drugs and our pharmaceuticals in this country." He added, "We're going to put tariffs on the pharmaceutical companies, and they are going to all want to come back."
And April 14, Trump's Department of Commerce said in a Federal Register filing it's investigating whether imports of pharmaceuticals and pharmaceutical ingredients pose a threat to the United States' national security.
The Department of Commerce filing opened a 21-day public comment period seeking input on how much Americans rely on foreign supply chains for their prescription drugs. The investigation will seek to address how trade policies impact domestic drug production and whether tariffs are needed to protect national security.
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