Pfizer’s Drug Price Cuts Yield Three-Year Trump Tariff Reprieve

Pfizer Inc. secured a reprieve from President Donald Trump’s long-threatened tariffs on the pharmaceutical industry Tuesday by agreeing to slash some of its drug prices by up to 85% and selling directly to the American public, a move other major drugmakers are expected to follow.

Pfizer said it will ensure Americans receive comparable prices to those offered in other countries and will launch new medicines at parity, addressing a key Trump complaint that Americans unfairly shoulder the highest medical costs in the world. In exchange, the company gained a three-year grace period from widely anticipated pharmaceutical tariffs that the administration has been promulgating.