Donald Trump to impose 25% tariff on pharmaceuticals

President Trump said pharmaceutical tariffs are coming to get the U.S. to start making its own drugs.

“Yeah, we’re going to be doing that, that’s going to be like we have on cars,” Mr. Trump said seated next to El Salvador President Nayib Bukele. “We, as you know, have a 25% tariff on cars, we have a 25% tariff on steel and aluminum, and that’s what that category fits right now.”

He said the tariffs would be placed “in the not-too-distant future.”

“We’re doing it because we want to make our own drugs. We’re doing it because we want to make our own steel and aluminum, lumber, other things and they’re all coming in,” he said.

He touted a $7 trillion investment number.