Trump to announce tariffs on pharmaceuticals, rules out early trade deals

U.S. President Donald Trump has announced that his administration would soon unveil tariffs targeting the pharmaceutical industry, though he did not disclose specifics regarding the timing or rates. 

Speaking to reporters aboard Air Force One, Trump reiterated his broader trade policy, emphasizing the implementation of reciprocal tariffs scheduled for April 2, Caliber.Az reports, citing foreign media.

The president also signaled openness to negotiating trade agreements with countries seeking to avoid U.S. tariffs but made it clear that such negotiations would only take place after the tariffs are officially announced. "They want to make deals. It's possible if we can get something for the deal," Trump stated, referring to nations including Britain that have approached Washington for discussions. However, he dismissed the possibility of finalizing any agreements before April 2, describing it as "a process."

In a separate trade measure, the Trump administration recently imposed a 25% tariff on auto imports, arguing that it would strengthen domestic manufacturing. The White House projects that the tariff could generate $100 billion annually, though industry experts warn it may disrupt supply chains, increase production costs, and reduce sales. Despite these concerns, Trump remains steadfast in his decision, declaring the tariff "permanent."

Additionally, the president issued a warning to the European Union and Canada, cautioning that coordinated actions against the U.S. could prompt even higher tariffs. The move is expected to intensify global trade tensions as affected countries weigh potential retaliatory measures.

By Khagan Isayev