Gonna Announce a Major Tariff on...: Donald Trump's New Round of Tax Duties to Begin Soon? Here's What He Said

Washington DC:  President Donald Trump has revealed that his administration is preparing to introduce a "major" tariff on pharmaceutical imports. Speaking at an event organised by the National Republican Congressional Committee, Trump said the measure aims to push drug manufacturers to bring their production back to the United States.

According to the President, the decision is part of a broader effort to reduce America’s reliance on foreign drug supplies and to strengthen domestic pharmaceutical manufacturing. "We're gonna tariff our pharmaceuticals ... we're going to be announcing very shortly a major tariff on pharmaceuticals," he stated.

Also read | Donald Trump's 104% Tariff On China Begins Midnight In Start of A Global Trade War

While he did not provide specific figures or a timeline, Trump emphasised that the aim is to encourage companies to manufacture their products within the country. "We want these companies to make their products here, in America, not in China or elsewhere," he said.

Trump Defends Tariffs as Economic Strategy

Defending his broader tariff strategy, Trump claimed that the United States is generating billions in revenue through duties imposed on foreign goods. We’ve had talks with many, many countries who want to make deals. Our problem is, we can’t see that many that fast. But we don’t have to because the tariffs are on, and money is pouring in at a level we’ve never seen, " he remarked.

Trump noted that while numerous countries have sought exemptions from the tariffs, the trade duties remain firmly in effect. He added that some companies are now moving their operations to the U.S. to avoid the penalties, a shift he attributes to the tariff pressure. “We’re now pouring in billions from tariffs on foreign imports,” he added, estimating the daily revenue at up to $2 billion.

Also read | India Signals Readiness to Cut Tariffs Amid Donald Trump’s Aggressive Trade Push: US Trade Official
 

We're Doing Well, Tailored Deals With Countries: Trump

Speaking further at the event, Trump said that this administration is making "tailored deals" with countries and would prioritise allies, as per foreign media reports.

"We're doing very well and making I call them tailored deals, not off the rack, these are tailored, highly tailored deals. Right now Japan is flying here to make a deal. South Korea is flying here to make a deal. And others are flying here,” he said.