Trump clobbers Big Pharma

President Trump launches a new tariff on international
pharmaceutical companies, hitting them with a 100% levy on
patented drugs, unless they’re building a U.S. production plant

TOP 10 ORIGINS OF PHARMACEUTICAL IMPORTS TO U.S., 2024
(value in $ billions, with % market share)

Ireland*
Switzerland
Singapore
Germany*
India
Belgium*
Italy*
China
Japan
UK

73.3 (29.7)
21.7 (8.8)
19.3 (7.8)
17.3 (7.0)
13.1 (5.3)
12.7 (5.2)
12.2 (4.9)
9.3 (3.8)
7.5 (3.1)
7.4 (3.0)

TARIFFS

*EU member nations fall under separate
tariff cap agreement of 15% rather than
latest 100% rate set by Trump administration

Source: Bloomberg
Illustration created with assistance from Google Gemini AI
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