Trump’s New Tariff Threat Will Send Medication Prices Skyrocketing

President Trump wants to place a 200 percent tariff on your pharmaceuticals. 

“We’ll be announcing something very soon on pharmaceuticals, we’re gonna give people about a year, year and a half to come in and after that they’re gonna be tariffed. If they have to bring the pharmaceuticals into the country, the drugs, and other things, into the country they’re gonna be tariffed at a very very high rate, like 200 percent,” the president said at his Cabinet meeting on Tuesday. “And we’ll give them a certain period of time to get their act together … so we’re gonna be announcing pharmaceuticals, chips, and various couple other things.” 

While every Trump tariff statement should be taken with a grain of salt, this move—under the guise of forcing large pharmaceutical companies like Johnson  & Johnson to manufacture in the United States and reinvigorating domestic production—will likely just raise prices, interrupt the supply chain, and ultimately hurt the patients relying on them. Pharmaceuticals are already incredibly expensive in this country. We’ll have to wait and see what happens in a year and a half.