Pharma industry lobbies Trump for phased tariffs, sources say

The largest multinational drug companies now expect US tariffs targeting medical products are inevitable.

Drugmakers are lobbying US President Donald Trump to phase in tariffs on imported pharmaceutical products in hopes of reducing the sting from the charges and to allow time to shift manufacturing, according to four sources familiar with the discussions.

Trump is expected to unveil a massive tariff plan on Wednesday. He said on Sunday that the reciprocal tariffs he is due to announce will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.