Health

Trump Pharma Plan Looks Like Reprieve for Many Drugmakers

Trump Targets Pharma, Furniture in New Tariff Push

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By Frank Connelly

September 26, 2025 at 9:39 AM UTC

Updated on

September 26, 2025 at 1:36 PM UTC

President Donald Trump’s plan to impose a 100% tariff on branded drug imports was greeted with a shrug by many investors, who are betting his exemptions for companies with US manufacturing will soften any blow.

While Trump’s move threatens to double the cost of some imported treatments if construction on US manufacturing sites hasn’t begun by Oct. 1, many big drugmakers already have US plants or are building them.