Trump says pharmaceutical tariffs can end up reaching up to 250%

President Donald Trump said CNBC “Box for Squawk‘On Tuesday these are scheduled tariffs for pharmaceuticals imported in the US threatened so far.

He said he would initially bring a “small tariff” on pharmaceuticals, but then a year to one and a half “maximum” he will increase this rate to 150%, and then 250%.

The president has repeatedly threatened and then changed the rate for tariff proposals, so there is no guarantee that he will eventually set pharmaceutical tariffs by 250%. In early July, Trump had threatened 200% tariffs on pharmaceuticals.

Trump administration in April initiated the so -called section 232 investigation on pharmaceutical products. It is a legal authority that allows the secretary of trade to investigate the impact of imports on national security.

Over the past few decades, tariffs have been the President’s application for stimulating drugs for the relocation of production operations in the United States at a time when the production of household drugs has decreased dramatically. Over the past six months love companies Eli Lily and Johnson and Johnson announced fresh us investment Create kindness with the president.

“We want the pharmaceuticals made in our country,” Trump CNBC said.

The planned levies will strike in the pharmaceutical industry, which has warned that tariffs could increase costs, restrain investment in the US and break drug supply chain, threatening patients. Narcotic manufacturers are already moving on precipitation from Trump’s drug pricing, which they claim, threatening both their lower line and the ability to invest in research and development.

This includes Trump’s executive order in May, which revives the controversial plan, the “most committed nation”, which aims to reduce drug costs, linking some medicines in the US to much lower abroad.

On Tuesday, Trump said CNBC that he “appealed to the” most supportive people “and that he would have” a huge impact on the price of medicine. “But Trump officially did not implement any changes in the executive order.

Trump last week Sent letters Up to 17 drug producers calling them to take steps to reduce drug prices in the United States until September 29. This includes consent to provide a full portfolio of existing medicines at the lowest price offered in other developed countries for each Medicaid patient, among other steps.

Some pharmaceutical companies have said they were considering letters.