Trump say the US will soon reveal tariffs on imports of pharmaceuticals.

President Donald Trump has announced that the United States will soon implement a “significant tariff ” on imported pharmaceutical products from other nations.

Speaking at a Republican National Committee event on Tuesday, Trump indicated that this tariff aims to encourage pharmaceutical companies to relocate their operations to the U.S. 

“We will be unveiling a substantial tariff on pharmaceuticals very shortly… Once they hear this, they will move away from China and other countries because… the majority of their products are sold here,” Trump stated during a dinner for the Republican National Congressional Committee.

Although the president had previously excluded pharmaceuticals from the recent round of reciprocal tariffs he announced, he has hinted for months that the pharmaceutical sector would soon be targeted.

In a conversation with reporters back in February, Trump suggested that tariffs on imported medications could begin at around 25% and potentially rise.

Experts and scholars have cautioned that imposing tariffs on drug imports may lead to higher prices for consumers.

On Tuesday, Trump also claimed that these tariffs would be advantageous for Republicans in the upcoming 2026 midterm elections.

The announcement of these tariffs has unsettled the stock market and raised fears of a potential economic downturn, which could pose challenges for Republicans as the governing party.

“We’re going to win the midterm elections and achieve a tremendous victory, I truly believe that… and I think the tariff situation will greatly assist us,” Trump remarked.

“It’s a positive development, not a negative one; it’s fantastic. You’ll see, it will be legendary in a good way.”

Additionally, the White House revealed on Tuesday that tariffs on Chinese goods will rise to 104% starting Wednesday.