Trump Administration Readies New Tariffs on Select Drugmakers

The Trump administration is set to announce tariffs as soon as Thursday on drugmakers that haven’t struck deals guaranteeing low prices in the US, according to people familiar with the plan, the latest move to tax imported goods on national security grounds.

President Donald Trump has been threatening tariffs on the pharmaceutical industry for the past year that could range from 100% to 200% in an effort to force pharmaceutical companies to return manufacturing to the US and to cut drug prices for American patients. Most of the major drug companies, including Pfizer Inc. and Eli Lilly & Co., have struck deals with the White House in exchange for a three-year reprieve from any such levies.