Trump's overnight demand for 100% tariffs on pharmaceuticals will be 'a meaningful commercial hit for U.S. consumers,'

top analyst says

President Trump’s overnight decision to impose a 100% tariff on imported pharmaceuticals starting Oct. 1 is already whacking the stock prices of foreign drug companies as analysts struggle to digest how damaging the hit to the drug business will be.

“Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” the president said on social media. “‘IS BUILDING’ will be defined as, ‘breaking ground’ and/or ‘under construction.’ There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started.”

The bad news: The drug tariffs will be “a meaningful commercial hit for U.S. consumers,” according to Oxford Economics’ analyst Louise Loo. Exporters in China, Vietnam, and Malaysia will also be affected by a separate Section 232 probe that Trump ordered into whether the medical products they supply represent a national security vulnerability.

https://finance.yahoo.com/news/trump-overnight-demand-100-tariffs-112459533.html

Trump wants to bring back the "gilded age" when there was no income tax and tariffs funded the federal government.