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President Trump announced potential pharmaceutical tariffs reaching 250%, initially starting with a "small tariff" escalating to 150% then 250% within a year and a half. This follows an April Section 232 investigation into pharmaceutical imports' national security impact. The aim is to boost domestic drug manufacturing. The pharmaceutical industry warns of increased costs, investment deterrence, and supply chain disruption. Trump also reiterated his "most favored nation" policy to lower drug prices, though concrete implementation remains pending.

Prepared by Christopher Adams and reviewed by editorial team.