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Apr 4, 2025 5:36 PM - Connect Newsroom

Trump’s Next Tariffs Target Could Be Foreign-Made Medicines

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While speaking to reporters aboard Air Force One, he warned that the pharma tariffs would be at an unprecedented level.(Photo: The Canadian Press)

US President Donald Trump is set to impose a significant blow on countries around the world, including Canada, with his new threat of pharma tariffs. While speaking to reporters aboard Air Force One, he warned that the pharma tariffs would be at an unprecedented level. He stated that medicines would be kept in a separate category and that the tariffs would be announced very soon.

Research conducted by the American Medical Association reveals that a 25 percent tariff on Canadian-made medicines could increase costs for American consumers by $750 million. Additionally, as a result of Trump's new threat, shares of Indian pharmaceutical companies dropped by as much as 10 percent today.

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