US President Donald Trump announced his plans to impose tariffs on pharmaceutical products in the coming two weeks, following the signing of an executive order aimed at promoting the production of these goods on US soil. At a conference in the Oval Office of the White House, Trump confirmed that he will soon reveal details of the promised levies for the pharmaceutical industry.
The recently signed executive order aims to simplify the processes for obtaining construction permits for facilities dedicated to the manufacture of prescription medications, including authorizations from the US Environmental Protection Agency. The goal is to establish a solid base of domestic manufacturing not only for medications but also for key ingredients and materials used in their production.
Additionally, Trump indicated that next week he will make another announcement related to drug costs, emphasizing his perception that other countries are harming the United States in this area. In an attempt to offset this, the president plans to use the revenue from the tariffs to counter the proposed tax cuts from his Administration.
In another action, Trump signed an executive order banning any federal funding for research on infectious diseases deemed dangerous in countries like China and Iran, which the US Government considers to lack sufficient oversight. This measure follows the previous stance of the Trump Administration, which questioned the funding of gain-of-function research in the wake of the COVID-19 pandemic outbreak.
Since his return to the White House in January, Donald Trump has been implementing a series of actions to encourage the relocation of manufacturing operations to the United States, triggering a trade war in various sectors.
