U.S. President Donald Trump said on Friday that he would soon announce tariffs targeting the pharmaceutical industry but did not provide details on timing or rates.
Speaking to reporters aboard Air Force One, Trump also stated that he was open to negotiating deals with countries seeking to avoid U.S. tariffs, but such agreements would have to come after his administration announces reciprocal tariffs on April 2.
Countries including Britain have approached the U.S. to discuss potential deals, Trump said.
“They want to make deals. It’s possible if we can get something for the deal,” he noted. However, when asked if these deals could happen before April 2, he ruled it out, saying, “No, probably later. It’s a process.”
Earlier, President Trump announced a 25% tariff on auto imports, claiming it would boost domestic manufacturing. The White House expects the move to generate $100 billion annually, but it could strain automakers reliant on global supply chains.
The tariffs, set to take effect in April, may raise costs and lower sales, though Trump insists they will lead to more U.S. factories.
Declaring the decision “permanent,” he also warned the EU and Canada of even higher tariffs if they coordinate against the U.S.
%20In%20Drug%20Development){kind=link}