Inside Trade

November 12, 2025

Trump: Pharma tariffs will start ‘small,’ rise to 250 percent

By Margaret Spiegelman  / August 5, 2025 at 2:28 PM
Forthcoming U.S. national security duties on pharmaceuticals will start at a low rate and could eventually rise to 250 percent, President Trump said in a wide-ranging interview on Tuesday morning where he offered more details on talks with India, China, Switzerland and the EU. Trump also expressed optimism about a pending deal with China and spoke about trade with India, Switzerland and the European Union, among other issues, during a phone interview with CNBC . “We'll be putting a [sic]...

Not a subscriber?

Request 30 days free access to exclusive, behind-the-scenes reporting on trade policy in the Trump era.